Alliance Global Partners lowered the firm’s price target on Tilray (TLRY) to $1.50 from $1.75 and keeps a Neutral rating on the shares. Longer-term, the company has a number of initiatives in place that could drive profitable top-line growth, including expansion within its international cannabis business, innovation in beverage and cannabis, and the ramping of its hemp-derived THC beverages, the analyst tells investors in a research note. The firm added, however, that it will remain on the sidelines as it waits for a greater line of sight for various initiatives to come to fruition.
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