Why Tilray Stock Is Heading Higher Today

Shares of the cannabis titan Tilray (NASDAQ: TLRY) jumped by as much as 15% in pre-market trading Thursday morning. The stock is responding positively to an upgrade from the financial services firm Cantor Fitzgerald that came out after the closing bell yesterday.

Specifically, Cantor Fitzgerald upgraded Tilray's stock to overweight from neutral. In an odd twist, however, the firm also lowered its 12-month price target from $30.25 to $22 in the same note to investors. 

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Source Fool.com