Tilray shares climbed on Tuesday, following a re-iteration of a rating from Cowen & Co.
Analysts at Cowen & Co. affirmed their outperform rating on the cannabis company. However, they also reduced their price target to $60 a share from $150.
Tilray is facing headwinds in the form of weak industry supply, the company being substantially dependent on third parties - as indicated by analyst Vivien Azer.
Nevertheless, the company is trying to mitigate the challenges by acquisitions (such as the Natura Naturals purchase) and expansions of its current facilities.
Azer suggested that Tilray is well-positioned for multiple entry points into the U.S. , as well as benefit from international markets as it awaits final GMP certifications on its Portuguese license.