Roth Capital has revised its outlook on Tilray (TLRY, Financial), adjusting the price target from $1 to $0.65, while maintaining a Neutral rating. This change comes in response to Tilray's recent third-quarter revenue and adjusted EBITDA falling short of expectations.
Despite these setbacks, Tilray management remains optimistic about future profitability. The company anticipates cost savings of $12.4 million annually through its Project 420 initiative. This project aims to enhance the company's cannabis margins by implementing cost-reduction strategies, focusing on international market expansion, and introducing new product innovations.
The analyst at Roth Capital emphasized these strategic efforts in a note to investors, highlighting that while current financial results are disappointing, the long-term plans could potentially improve Tilray's financial position.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 12 analysts, the average target price for Tilray Brands Inc (TLRY, Financial) is $1.34 with a high estimate of $2.50 and a low estimate of $0.60. The average target implies an upside of 174.07% from the current price of $0.49. More detailed estimate data can be found on the Tilray Brands Inc (TLRY) Forecast page.
Based on the consensus recommendation from 13 brokerage firms, Tilray Brands Inc's (TLRY, Financial) average brokerage recommendation is currently 2.7, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Tilray Brands Inc (TLRY, Financial) in one year is $1.93, suggesting a upside of 295.98% from the current price of $0.4874. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Tilray Brands Inc (TLRY) Summary page.
