Tilray's Stock Falls 6% on Analyst Downgrade
Investors sold out of Tilray (NASDAQ: TLRY) after an influential investment bank downgraded its recommendation on the stock.
On Wednesday, Jefferies pushed its recommendation on the Canadian marijuana company's shares down a peg to underperform (i.e., sell) from the previous neutral. It also changed its price target to $5 per share. Jefferies believes Tilray will post a net loss of $1.44 per share for this fiscal year and narrow that shortfall to $0.80 in 2021.
The latter figures, however, would be a significant improvement over the full-year 2019 net loss of $3.20 per share.
Source Fool.com