Forget $4 Billion. Analysts Don't See Tilray Even Getting to $1 Billion Anytime Soon
When Tilray Brands (NASDAQ: TLRY) came out with its $4 billion revenue forecast for 2024, I knew it was the mother of all long shots. Too much would need to go right for the company to hit that target, including U.S. legalization of marijuana. The danger of a forecast like that is it can set the stock up for some overly aggressive expectations that it has little hope of meeting. There's simply no good reason for being so bullish and optimistic given the lack of progress on efforts to legalize marijuana around the world, especially in the U.S.
Reaching $1 billion is a much more realistic goal for the company. However, analysts don't even think that's going to happen anytime soon. It's important for investors to adjust their expectations for Tilray -- otherwise they could be in for a huge disappointment later on.
According to a report from MjBizDaily citing information from Cantor Fitzgerald, management at Tilray has dropped its $4 billion revenue projection for 2024. There wasn't any updated forecast given, and there's been no press release on the issue either. However, the company has mentioned in the past that legalization efforts in the U.S. haven't been going as hoped.
Source Fool.com
