Cannabis stock Tilray (TSE:TLRY) is making moves worldwide, and one of its latest comes from its subsidiary, Tilray Medical. Tilray Medical is bringing both Redecan THC28 Purple Churro and Redecan THC28 Space Age Cake to the Australian market, a move that has left shareholders largely nonplussed. Shares of Tilray stock were trading relatively flat on Wednesday morning.
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The two new products will both be available in 15-gram packages, and moves to improve Tilray’s overall position in the medical cannabis market. Tilray has also supported a range of studies that prove there can be a medical cannabis market, studying the impact of cannabis on everything from fibromyalgia to pediatric epilepsy and even post-traumatic stress disorder.
And that cannabis market—medical or otherwise—has been good to Tilray. Over the last five years, Tilray has more than quadrupled its overall revenue from $179.30 million in 2020 to $788.94 million in 2024. Tilray Medical chief strategy officer Denise Faltischek noted that the new brands will “…further expand…our medical cannabis portfolios alongside our current Tilray and Broken Coast offerings….”
And Then There’s The Brewery
But Tilray isn’t all about marijuana. It has also made some exciting moves with beverages as well, and just days ago, it finished the acquisition of Molson Coors’ (TAP) Atwater Brewery. With Atwater now in its portfolio, Tilray now has access to a brand that is fairly widely known in the Great Lakes region, with a particular focus on Michigan.
Tilray’s expansion also includes Terrapin Beer Co., Revolver Brewing, and Hop Valley Brewing Company under its umbrella as well. Tilray is clearly out to make a name for itself in beer just like it did in cannabis, though only time will tell if the company can pull that off.
Is TLRY Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on TSE:TLRY stock based on two Buys and five Holds assigned in the past three months, as indicated by the graphic below. After a 24.85% loss in its share price over the past year, the average TSE:TLRY price target of C$2.87 per share implies about 16% upside potential.
