In a recently released analyst research report, Alliance Global Partners equity research analyst Aaron Gray initiated coverage on shares of Tilray Inc. (NASDAQ:TLRY) with a Neutral rating and a price target right in-line with BMO Capital Markets equity research analyst, Tamy Chen, CFA’s estimates.
Aaron Gray’s TLRY price target of $50.00 USD per share implies a potential upside of approximately 2.59% based on the last traded price of $48.74 USD per share on the NASDAQ.
According to TheFly, “Alliance Global Partners analyst Aaron Grey initiated Tilray with a Neutral rating and $50 price target, stating that he thinks the stock’s current valuation fairly values the company’s leading position in terms of the medical market and clinical trials against its lower market share versus other top Canadian licensed producers. Grey estimates Tilray to have about 5% share of the total market following the first quarter of adult-use sales. Its market share will need to increase in order to justify the stock’s premium valuation, but Grey thinks catching up in terms of market share could prove difficult, he said.”
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