Shares of Aphria (NASDAQ: APHA) surged on Tuesday, following bullish analyst commentary. As of 3 p.m. EST, Aphria's stock price was up more than 25%.
Cantor Fitzgerald analyst Pablo Zuanic reiterated his overweight rating on Aphria's shares and boosted his one-year price forecast from $20.50 to $25.62. Zuanic's new target is roughly 51% higher than Aphria's closing price on Friday and 20% above its current price near $21.30.
Aphria and Tilray's alliance could create a powerful force in the global cannabis market. Image source: Getty Images.
Source Fool.com