Analyst Says Tilray Growth Expectations Are Way Too High

Cannabis stocks are getting high praise from Wall Street analysts lately, with several top companies landing new buy ratings. Unfortunately for Tilray Inc (NASDAQ: TLRY) investors, yet another analyst said Thursday he is staying on the sidelines when it comes to the stock.

The Analyst

Stifel analyst W. Andrew Carter initiated Tilray with a Hold rating and C$37 ($27.62) price target.

The Thesis

While Carter is bullish on top cannabis pick Canopy Growth Corp (NYSE: CGC), Carter said Tilray shares don’t look cheap even after a 50.3 percent year-to-date sell-off.

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Carter is forecasting Tilray will generate some impressive revenue growth over the next two years, expanding annual sales …

Full story available on Benzinga.com

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