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TLRY / Piper Sandler slashes Tilray price target in half

Piper Sandler analyst Michael Lavery on Wednesday cut his price target on Tilray Brands Inc. TLRY, -1.11% to $3 a share from $6 in the face of tough market conditions. While Tilray's direct access to the European market and its positive margins on its earnings before interest, taxes, depreciation and amortization (Ebitda) allow it to stand apart from competitors, the company faces headwinds from further market share loss in the Canadian adult use cannabis market as well as from softer-than-expected U.S. alcohol sales from its Sweetwater brand and an unfavorable currency exchange rate, Lavery said. Read More

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Posted: Jun 15 2022, 10:59

Author Name: Market Watch

TLRY News

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