Tilray leads cannabis sector higher as Cantor Fitzgerald boosts price target

  • Though still not a bull on Tilray (NASDAQ:TLRY), Cantor Fitzgerald analyst Pablo Zuanic raises his price target for the shares to $30.25 from $24.20.
  • Maintaining his hold rating on shares, Zuanic says, "The recent bout of volatility in Canadian cannabis stocks may be another deterrent for investors looking at this subsector," He does add that the potential for growth outside of Canada may justify the higher valuations.
  • Tilray, which is on Seeking Alpha's Catalyst Watch, is set to report Q4 2020 earnings tomorrow.
  • Tilray up 17.9% to $34.20. Other names: Aphria (APHA +26.7%), Canopy Growth (CGC +5.3%), Cronos Group (CRON +7.4%), Aurora Cannabis (ACB +12.0%), HEXO Corp. (HEXO +18.3%).
  • The ETFMG Alternative Harvest ETF (MJ +8.8%).
  • Shares of Tilray and other cannabis players, of course, have been on a roller coaster recently.

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