PRO: Benchmark Initiates Coverage of Tilray with Buy Rating

Benchmark Co. analyst Mike Hickey initiated coverage of international cannabis company Tilray, Inc. (NASDAQ:TLRY) alongside a ‘Buy’ rating and a bullish price target.

This announcement comes just a few weeks after Benchmark initiated coverage on Canopy Growth Corp. (TSX:WEED) (NYSE CGC) with a ‘Buy’ rating and $100 CAD price target.

“We believe establishing an early first mover advantage is critically important in the emerging cannabis market, particularly when it comes to building national and global scale, leading brands, and developing innovative products and form factors that use cannabis as an active ingredient,” Hickey wrote in his analyst note to clients.

With a price target of $200 USD per share of TLRY on the NASDAQ, Mike Hickey sees over 35% of potential upside based on a last traded price of $148.

We’ll continue to monitor analyst activity and in the meantime, be sure to subscribe to Canadian Licensed Producer Updates here and Cannabis Stock Updates here so you never miss an important update. For updates on Tilray specifically, be sure to subscribe to Tilray Updates here.