Tilray, Inc. (TLRY) International Market Opportunity Just Beginning To Bloom - Benchmark
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Benchmark analyst, Mike Hickey, reiterated his Buy rating on shares of Tilray (NASDAQ: TLRY) after the company reported strong F3Q18 sales, including a meaningful increase from international markets.
Despite the international opportunity appears to be in the early stages. The analyst stated "The Company did not recognize sales from recreational cannabis use in the quarter. As anticipated, recreational cannabis use experienced a slow start primarily due to the timing of licenses, distribution and retail infrastructure. Regardless, there appears to be exceedingly strong demand for cannabis from Canadians, and we expect near term friction to smooth over time".
No change to the price target of $200 which is based on a 15x sales multiple on 2023 sales of $2.1B, discounted back 4 years.
Shares of Tilray closed at $111.55 yesterday.
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