Tilray (TLRY) PT Lowered to $17 at Jefferies

Jefferies analyst Owen Bennett lowered the price target on Tilray (NASDAQ: TLRY) to $17.00 (from $22.00) while maintaining a Buy rating after the company's Q2 revenue was disappointing due to weaker than expected Canadian adult-use.

The analyst stated "it needs to be put into context — Canada adult-use <25% of group sales, Tilray still market leader, pricing robust relative to industry, and margins (both GM and EBITDA) still among industry best. Beyond this, its international optionality is compelling, both Europe and US, and it remains the most attractive Canadian operator in our view. PT to $17 on Canada headwinds. Stay Buy."

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