Company News

BUZZ-Tilray edges higher heading into results; Aurora Cannabis still smokin'

** Shares of Canadian medical marijuana co Tilray up 0.7 pct at $73 ahead of Q4 results due after the bell, barely trimming MTD loss

** Tilray set for 3rd report as a public co. Street consensus calls for sequential increase in revenue to $14.15 mln, while adj loss/sh narrows to 12 cents vs Q3 - Refinitiv IBES data

** Tilray got its first 2 “sell” ratings this month: Melius Research on Mar 4 initiated with “underweight” and $48 PT, citing “less clarity” on future growth outside of Canada, while Jefferies on Mar 8 started with “underperform” and $61 PT, saying stock’s valuation ‘too rich’ as parts of co’s business inferiorly positioned vs peers

** TLRY shares down ~10 pct in Mar, suffering just their 3rd monthly fall so far since their Jul debut

** Conversely, U.S.-listed shares of Aurora Cannabis jumped 5 pct early Mon and have now surged >25 pct in past 4 sessions since co picked billionaire investor Nelson Peltz as strategic adviser

** Other peers Cronos up 1 pct, Canopy Growth up 0.3 pct and Aphria up 0.4 pct in early Mon trade

** Since mid-Jul IPO, TLRY shares have soared ~230 pct; Over same time frame, CRON the leader up ~216 pct, followed by ACB and CGC both with gains of ~80 pct and APHA’s ~19 pct rise is the laggard