Tilray Brands Inc TLRY

Cantor Fitzgerald’s Pablo Zuanic Gives Praise to the King

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In the long term view, Tilray is ticking “all the right boxes” said Zuanic, referring to how the company is number one in the domestic recreational market, as well as in Europe, while also being focused on developing a CPG brand portfolio that could one day overlap with marijuana. Tilray reaffirmed EBITDA guidance of $70-80 million for the fiscal year ending May 2023, but Zuanic projects $62 million. The analyst noted that the company’s leadership is aware of difficult times for the industry, and is thus focused on cost savings (across divisions and regions, and is finding original ways of using capacity), improving cash flow, and maintaining a strong balance sheet. Remaining on Nasdaq remains priority for the company, so management hinted it will not consider Canopy Growth’s 

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 strategy of potentially delisting and only having a TSX listing.”