Jefferies Reiterates Buy Rating on Tilray (TLRY)

Jefferies analyst Kaumil Gajrawala reiterated a Buy rating and $1.50 price target on Tilray (NASDAQ: TLRY) following earnings.

The analyst commented, "Sales missed due to soft beer demand, reset execution, SKU cuts, and delayed cannabis shipments. Beer was lower than expected, but the portfolio transformation and distributor transitions are ongoing and necessary for long-term growth. Near-term remains a stepping stone to a larger story. Tilray's leadership in the global cannabis market, an improved balance sheet, and leading US craft beer share offering cash flow stability keep us positive,"

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 $0.70 yesterday.

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