Tilray Should Benefit from 2H Cannabis Recovery, BrewDog Buy
Dow Jones
3 hours ago
1246 ET - Tilray Brands still has work to do in its legacy beverage and adult-use cannabis business, but there are green shoots of improvement, according to TD Cowen's Derek Lessard. In a report, the analyst notes that the company is making progress against its key priorities, and that "we are encouraged by the early performance of its new cannabis strains, alongside improving BrewDog demand and margins." It is still early days for these new additions. "While these trends are still developing, they give us greater confidence in TLRY's longer-term growth outlook," Lessard says. He expects recreational cannabis to return to growth in 2H, while the recent acquisition of BrewDog should help lift overall margins above its legacy average.
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