In a recently released analyst research report, Cowen & Co.‘s Managing Director and Senior Research Analyst covering beverages, tobacco, and cannabis, Vivien Azer, reiterated her bullish stance on shares of Tilray Inc. (NASDAQ:TLRY) with a buy rating and a sky-high price target.
This updated analyst guidance from Azer comes a few days after Northland Securities, Inc.‘s Senior Research Analyst, Michael Grondahl, assigned a hold rating to Tilray alongside Roth Capital Partners‘s Director and Research Analyst, Scott Fortune, reiterating his hold rating on shares of Tilray.
Vivien Azer’s new price target of $150.00 USD per share implies a potential upside of approximately 124.05% based on the last traded price of $66.95 USD on the NASDAQ.
According to MarketWatch, “Although Azer is still bullish on Tilray, she warns the company will likely take longer to reach its profitability targets because of “continued reliance on bulk oil sales, third-party party supply sourcing and production ramp along with lower operating leverage.” She believes Tilray will now reach break-even in terms of earnings before interest, taxes, depreciation and amortization by mid-2020, rather than mid-2019 as she previously expected. Still, she thinks Tilray can reach margins of some 30% long term, much like those of Canopy Growth.”
Be sure to subscribe to updates here so you never miss an important development.
Get Real-Time Updates from MJobserver.com