Tilray(TLRY:TSX) Canaccord upgraded to Buy from Hold

STA Research
by: STA Research

Canaccord Capital upgraded  Tilray Inc.  to a Buy rating from a Hold, and maintained the $11.50 target on the cannabis company’s stock price.

Analysts rate Tilray with a consensus Hold rating and a 12-month average Target Price of $15 per share.

Early in the week, Morningstar maintained  Tilray Inc. with a Buy rating and lowered the target to $16 from $18.

Based on the Tilray Inc. stock forecasts from 3 analysts, the average analyst target price for Tilray Inc. is CAD 16.79 over the next 12 months. Tilray Inc.’s average analyst rating is Buy. Stock Target Advisor’s own stock analysis of Tilray Inc. is Slightly Bearish, which is based on 2 positive signals and 3 negative signals. At the last closing, Tilray Inc.’s stock price was CAD 7.45. Tilray Inc.’s stock price has changed by -0.34% over the past week, -0.41% over the past month and +0.00% over the last year.

Tilray Brands Inc. engages in the research, cultivation, production, marketing, and distribution of medical cannabis products. It operates through five segments: Cannabis Business, Distribution Business, Beverage Alcohol Business, Wellness Business, and Business Under Development. The company was formerly known as Tilray, Inc. Tilray Brands Inc. was incorporated in 2018 and is headquartered in New York, New York. 

Based on the Tilray Inc stock forecasts from 3 analysts, the average analyst target price for Tilray Inc is CAD 15.00 over the next 12 months. Tilray Inc’s average analyst rating is Buy . Stock Target Advisor’s own stock analysis of Tilray Inc is Slightly Bearish, which is based on 2 positive signals and 3 negative signals. At the last closing, Tilray Inc’s stock price was CAD 6.88. Tilray Inc’s stock price has changed by -1.03% over the past week, -0.28% over the past month and +0.00% over the last year.

What we like:

High market capitalization

This is one of the largest entities in its sector and is among the top quartile. Such companies tend to be more stable.

Superior Revenue Growth

This stock has shown top quartile revenue growth in the previous 5 years compared to its sector.

What we don’t like:

Highly leveraged

The company is in the bottom half compared to its sector peers on debt to equity and is highly leveraged. However, do check the news and look at its sector and management statements. Sometimes this is high because the company is trying to grow aggressively.

Negative cashflow

The company had negative total cash flow in the most recent four quarters.

Low Earnings Growth

This stock has shown below median earnings growth in the previous 5 years compared to its sector

 

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