Why Tilray And Canopy Growth Are Trading Higher Today

Shares of cannabis companies such as Tilray, Inc. (NASDAQ: TLRY) and Canopy Growth Corporation (NASDAQ: 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.

See also: How to Buy Tilray Here (ACB) Stock