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Tilray Has 64% Upside After "Perfect Match" Merger, Analyst Says

·2 min read
Tilray Has 64% Upside After "Perfect Match" Merger, Analyst Says
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Wall Street is starting to swoon over Tilray (NASDAQ: TLRY) now that the marijuana producer has closed its merger with Aphria. Jefferies analyst Owen Bennett just double-upgraded Tilray from underperform to buy, telling investors in a research note the cannabis company had completed the "perfect match," and asserting that it has tremendous upside potential in the U.S., Canada, and Europe. As he resumed coverage of the pot stock, he set a price target of $23 per share on it, which is 64% above the $14.15 per share price where Tilray closed Thursday's session.