Jefferies only raised the target TILRAY share price 33 %. Should you buy TLRY here?

Tilray (TLRY) shares rise on Monday after a senior Jeffrez analyst issued a positive note to the hemp specialist.

Kauil Gajrawala has maintained its “purchase” classification on the New York -based company, and raised its target price to $ 2, indicating a potential increase of 50 % of the current levels.

Jefferies Bullish’s invitation is especially important because Tilray Stock has already increased by 300 % against its lowest level in late June.

Kaumil Gajrawala believes that President Donald Trump’s administration will soon reschedule cannabis as a drug in the third table, giving the path to further bullish trend in TLRY stock.

The above -mentioned residence remove the main federal restrictions that currently hinder the profitability and growth of Tilray.

For example, Al -Qanmph Company will demand the deduction of standard business tax under the 280E Tax Authority Law, which greatly improves the end result.

In addition, the classification will legalize medical cannabis at the federal level, and expand access and acceleration of demand, which can translate into the continuation of momentum in TILRAY shares.

If the Trump administration has already continued to reclassify hemp as a drug in the third table, it may also open the door for institutional investors and major banks to interact with TLRY shares.

Jefferies believes that the company listed on the Nasdaq Stock Exchange is the “largest possible beneficiary” to reschedule because it can represent a turning point for TILRAY financial and strategic forecasts.

The levels of moderate debt and strong liquidity were among other reasons, the investment company cited its upward view on Tilray shares.

Note that Kauil Gajrawala is still based on the cannabis company, although it is ashamed of street estimates in the last quarter of the amount.

Despite the expectations of the upcoming positive organizational developments, Wall Street recommends caution in buying Tilray shares at the current levels.

Although the classification of consensus on TLRY shares remains at “Buy Modera”, the average goal of $ 1.27 is already in line with the price that it traded at the time of writing this report.