March 8, 2019 / 5:48 AM / 8 months ago

BUZZ-Tilray Inc: Jefferies says valuation 'too rich'

** Jefferies initiates coverage of medical marijuana co Tilray Inc with “underperform,” citing an overvaluation of the shares

** Stock’s valuation too dependent on an unclear medical marijuana outlook, broker says

** Parts of co’s business inferiorly positioned vs peers, Jefferies says, adding it “struggles” to justify the current valuation

** Concerned about inherent uncertainty and lack of visibility in medical marijuana segment, though co is leading the way with medical research, is a global leader in this segment - Jefferies

** Co’s Canada medical share (core strength) is not in the top 4 and recent consumer feedback not inspiring - Jefferies (Derek.francis@tr.com)

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