Morningstar Trims Tilray's Price Target, Here's What's Behind It
Morningstar reduced its price target for Tilray Brands, Inc. (NASDAQ: TLRY) from $3.30 to $3.10, on Wednesday, Feb 14, all while keeping its four-star rating intact. According to Kristoffer Inton, the analyst, three reasons contributed to the price decline, including reduced revenue in the short term driven by ongoing market fragmentation, pricing compression, and still present illicit market in Canada."We forecast CAGR for net revenue from cannabis to be roughly 8% through fiscal 2033," the analyst said. "Our forecast is based on moderate price increases of roughly 3% per year, with weaker price growth in the Canadian recreational market due to Canadian consumers' preference for value over premium."
