The Tilray Analyst
Pablo Zuanic maintained a Neutral rating on Tilray and lowered the price target from $17.50 to $4.90.
The Tilray Thesis
While Zuanic said he understands the need to raise funds, the analyst said he’s surprised Tilray would choose “the worst of times” to price the offering. (See his track record here.)
The analyst weighed whether other cannabis companies will follow suit, and said that in the case of Aurora Cannabis (NYSE: ACB), the company is likely to rely on cost cuts, positive EBITDA and lower capex …