Tilray (TLRY) Analyst Day Points to a $4B Revenue Opportunity by 2024 - Roth Capital

Roth Capital analyst Scott Fortune reiterated a Neutral rating and $8.00 price target on Tilray (NASDAQ: TLRY) after attending the company's analyst day where management assessed the market opportunity to be $4B if legalization falls into place.

The analyst stated "Management provided additional color on reaching the ambitious revenue target ($620M run-rate currently), including $1B from Canada, $1B from International (EU), and $2B from U.S. sales ($1.5B cannabis, $0.5B CPG). Overarching success to the $4B mark depends on cannabis legalization in the U.S. and Germany, additional M&A (funded by 1/3 debt and 2/3 equity), and organic growth through capturing market share. While we are becoming incrementally more positive on the long term established global footprint for cannabis and CPG categories it is implementing, we believe federal legalization is a ways off. By 2025, we believe the consolidation of large U.S. MSOs will occur, driving their market caps higher and becoming a challenge for TLRY to add $1.5B in U.S. THC sales via a large MSO transaction."

For an analyst ratings summary and ratings history on Tilray click here. For more ratings news on Tilray click here.

Shares of Tilray closed at $5.18 yesterday.

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