January 8, 2019 / 12:28 PM / 3 months ago

BUZZ-Cowen bullish on cannabis in 2019

** Strong growth outlook for cannabis in North America in 2019 and investments made in 2018 to scale up production leads Cowen & Co analysts to be bullish on cannabis stocks going into the new year

** Rates Canopy Growth Corp, Tilray and KushCo Holdings Inc “outperform”; WEED is brokerage’s top pick

** Cowen raises U.S. cannabis sales forecast by $5 bln to $80 bln by 2030 based on bigger-than-expected increases of reported cannabis use among adults

** Beer sales in 2018 were weighed down by growing cannabis use, with 2019 expected to be another tough year - Brokerage

** Cowen also says cannabis in the U.S. is a revenue opportunity for big tobacco companies, in the face of anemic cigarette category growth

** Tilray up over 320 pct since its July 2018 IPO price of $17; Stock still 76 pct off its record high from September

** WEED up 12.6 pct in the last 12 months (Reporting by Uday Sampath in Bengaluru)

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