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Tilray has price target chopped at Haywood

TLRY stock

Following the company’s second quarter results, Haywood analyst Neal Gilmer has cut his price target on Tilray Brands (Tilray Brands Stock Quote, Chart, News, Analysts, Financials TSX:TLRY).

On January 10, TLRY reported its Q2, 2025 results. The company posted Adjusted EBITDA of $9.0-million on Net Revenue of $211-million, a topline that was up 9%, year-over-year.

“As we enter the second half of the year, we remain committed to delivering on our financial guidance and driving shareholder value. Tilray is a leading force at the forefront of the beverage industry, revitalizing the beer market, driving growth in spirits and non-alcoholic beverages, and advancing the legitimacy of cannabis for both recreational and medical use,” CEO Irwin D. Simon said. “Through our brew pubs, we focus on bringing people together, creating exceptional experiences through entertainment, and enhancing lives through moments of connection. As I’ve said in the past, new industries are not born, they are built. To that end, we are trailblazing the future of consumer products through the infrastructure we have built. I am enthusiastic about what lies ahead, including the potential future legalization of cannabis in the U.S.”

Gilmer says this was a mixed quarter, with some evident weakness.

“Tilray released its Q2/25 results for the period ending November 30th, 2024 with revenues generally in-line however investments into the business, particularly the beverage segment causing EBITDA to come in slightly below expectations,” he wrote.

In a research update to clients January 10, Gilmer maintained his “Hold” rating and lowered his price target on the stock from $2.00 to $1.40, implying a return of 14% at the time of publication.

The analyst thinks TLRY will post EBITDA of $63.7-million on revenue of $915.0-million in fiscal 2025. He expects those numbers will improve to EBITDA of $76.2-million on a topline of $989.9-million in fiscal 2026.

“Tilray remains a prominent player in the Canadian cannabis landscape and we are encouraged by the international opportunities, as well as the expanding beverage segment in the United States,” Gilmer concluded. “However, we remain cautious on the overall Canadian landscape and the limited sustainable
organic growth the Company has been able to achieve but recognize the diversification of its business segments. We maintain our Hold rating as we await more evidence on accelerated near term revenue growth drivers and improving cash flow generation.”

About The Author /

Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.
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