In a recently released analyst research report, The Vertical Group analyst and Managing Director, Gordon Johnson, initiated coverage on shares of international cannabis company Tilray Inc. (NASDAQ:TLRY) with a Sell rating and a brutally low year-end price target.
Johnson’s bearish note to investors comes just a few weeks after Cowen & Co.‘s Senior Research Analyst covering cannabis, Vivien Azer, reiterated her bullish stance on Tilray with a buy rating and a sky-high price target.
Gordon Johnson’s Tilray price target of $8.00 USD per share implies a potential downside of approximately 85.02% based on the last traded price of $53.42 USD on the NASDAQ.
According to TheFly, “Vertical Group analyst Gordon Johnson initiated Tilray with a Sell rating and $8 year-end price target, stating that he sees a “best case” being 80% downside as “reality sets in for ‘weed’ investors” during this year. Tilray shares trading in New York close yesterday at $53.52 and are down 4% in pre-market trading to $51.40.”
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