Shares of cannabis companies such as Tilray, Inc. TLRY and Canopy Growth Corporation CGC are trading higher after BofA Securities reinstated a Buy rating on the stocks.
BofA Securities analyst Heather Balsky reinstated a Buy rating on Tilray's stock with a $23 price target, while Canopy Growth received a $36 price target.
Tilray cultivates and sells medical and recreational cannabis. The stock was trading up 8.7% at $19.26 at the time of publication. The stock has a 52-week high of $67 and a 52-week low of $4.41.
Canopy Growth cultivates and sells medicinal and recreational cannabis, and hemp. The stock was trading up 4% at $28. The stock has a 52-week high of $56.50 and a 52-week low of $12.95.
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