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