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Investing.com - TD Cowen has lowered its price target on Tilray (NASDAQ:TLRY) to $10.00 from $25.00 while maintaining a Buy rating on the cannabis and beverage company’s stock. Tilray currently trades at $6.93, having plummeted 31.46% over the past week, according to InvestingPro data.
The adjustment accounts for Tilray’s reverse 10-for-1 stock split, which became effective December 1, according to TD Cowen analyst Robert Moskow.
The research firm’s new valuation applies a 12x EV/EBITDA multiple against its forward next-twelve-months EBITDA estimate of $80 million for the company.
TD Cowen cited "a challenging craft beer category backdrop" as one factor behind the reduced valuation multiple for Tilray’s shares.
The firm also pointed to "competitive pressures in Canadian cannabis" as contributing to its more conservative outlook on Tilray’s business prospects.
In other recent news, Tilray Brands Inc. reported its first-quarter fiscal year 2026 earnings, revealing a net revenue of $210 million, marking a 5% increase from the previous year. The company achieved a net income of $1.5 million, reversing a previous net loss of $34.7 million, and its revenue exceeded forecasts by 2.4%. Additionally, Tilray announced a 1-for-10 reverse stock split set to take effect next week, reducing its outstanding shares from approximately 1.16 billion to 116 million. In another development, Tilray Medical, a division of Tilray Brands, will expand its medical cannabis operations into Panama through a joint venture with Top Tech Global Inc. The newly formed Solana Life Group has received a medical cannabis license from Panama’s National Directorate of Pharmacy and Drugs, allowing for cultivation, manufacturing, and distribution in the country. These recent developments highlight Tilray’s strategic moves in both financial restructuring and international expansion.
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