Replies to post #6391 on Tilray Brands Inc (TLRY)

[FUNMAN]

Here's Why Tilray Stock Is Surging

Analysts are high on the cannabis company's growth prospects.

By Joe Tenebruso (TMFGuardian)
May 7, 2021 at 8:48PM

https://www.fool.com/investing/2021/05/07/heres-why-tilray-stock-is-surging/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article

What happened

Shares of Tilray (NASDAQ:TLRY) jumped Friday, following bullish analyst commentary. By the close of trading, the popular marijuana stock's price was up 14.4% after rising as much as 20.2% earlier in the day.

So what

Jefferies analyst Owen Bennett raised his rating on Tilray's stock from underperform to buy. He now sees the cannabis producer's share price rising 42% to $23, following its recently completed merger with Aphria.

Bennett believes the combination of Aphria and Tilray is a "perfect match," as it brings together their leading positions in Canada and international markets. He posits that the newly formed company is well positioned to gain share in its existing markets -- and make a successful push into the U.S. market.

Now what

1) With a large global geographic footprint, industry-leading operational scale, and low-cost production facilities, Tilray is poised to compete and win in the rapidly expanding cannabis market.

2) Better still, management expects to wring out roughly $81 million in annual expenses, which should help to bolster the company's profitability.

3) Tilray, in turn, appears set to generate strong increases in sales and profits -- and, by extension, additional gains for its investors -- in the coming years.