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TLRY Stock: Why Tilray Shares Are Smoking Today

Tilray (NASDAQ:TLRY) stock is soaring higher on Friday after Cantor Fitzgerald increased its price target for Aphria (NASDAQ:APHA).

Image of marijuana leaves growing on a plant.
Source: Yarygin / Shutterstock.com

This has Cantor Fitzgerald analyst Pablo Zuanic pushing the price target for shares of APHA stock up from C$11.75 to C$26. That’s despite the firm not being overly happy with Aphria’s most recent earnings report.

So what does all of this have to do with TLRY stock? Aphria and Tilray are currently undergoing a merger that will combine the two cannabis companies. With that in mind, it only makes sense that a price target increase for APHA stock would also affect TLRY shares.

The Cantor Fitzgerald analyst said the following alongside the price target increase for APHA stock, as collected from MarketWatch.

“We raise these points because if Canopy Growth and Cronos are valued at 18-21x CY21 EV/sales (based on FactSet consensus estimates), and APHA + TLRY is at 13x, despite being #1 in the Canadian market (20% share, 7pt above #2), and having the optionality of a future CPG partner (we think it is the most attractive asset), we would say there is value.”

TLRY stock was up 8.4% and APHA stock was up 5.9% as of Friday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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Article printed from InvestorPlace Media, https://investorplace.com/2021/01/tlry-stock-why-tilray-shares-are-smoking-today/.

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