October 16, 2018 / 1:13 PM / 5 months ago

BUZZ-Tilray: Rises after Benchmark starts with 'buy'

** Cannabis maker’s shares rise 6.6 pct to $176.50 premarket after Benchmark starts coverage with ‘buy’ rating and PT of $200, an upside of ~20 pct to TLRY’s Monday close

** Benchmark says partnering with Novartis AG and Canadian pharmacies will accelerate co’s growth in the Canadian cannabis market; brokerage says market could reach C$4.1 bln in 2019

** Comments come a day ahead of the launch of legal recreational marijuana in Canada; Shares of Cronos Group up ~9 pct, Canopy Growth up ~4 pct

** Out of the 4 brokerages that cover TLRY, 1 recommends ‘buy’ and 3 ‘hold’; Median PT 121

** U.S.-listed ETFMG Alternative Harvest ETF is up 3 pct; TLRY’s stock has risen more than seven-fold since debut in July ( Reporting by John Benny in Bengaluru)

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