U.S. Markets close in 5 hrs 22 mins

No. 1 Wall Street pot analyst says the marijuana market will be much bigger than she first thought

Thomas Franck

The cannabis industry's rapid evolution and new strategic partnerships with mainstream brands reveal a far larger possible market for legal marijuana than investors and analysts first anticipated, according to Cowen. Cowen's Vivien Azer nearly triples her 12-month price forecast on Canadian marijuana producer Tilray this week to $172 from $62. Recreational use of cannabis in Canada becomes legal Oct. 17, though each of the country's 10 provinces will be able to regulate the market within their jurisdiction.