Canadian pharmaceutical and cannabis firm Tilray’s (TLRY) subsidiary SweetWater Brewing Company has expanded its seasonal beer range with the launch of Non-Dairy Almond Milk Stout, which has been crafted with plant-based ingredients.
The beer features aromas of dark chocolates, milk and coffee, and comes with an ABV (alcohol by volume) of 5.4%. While SweetWater Brewing is a craft brewery based in Georgia, Tilray is involved in the sale, production, cultivation and research of medical cannabis and cannabinoids. (See Tilray stock chart on TipRanks)
The Brewmaster, Mark Medlin, said, “Using real almonds and all-natural ingredients, we integrated the sweetness brought by the dark chocolate aromas and almond flavoring you find in a typical stout, but offset by the non-dairy ingredients and drinkability. This stout will give craft beer lovers a tasty beer to savor for the fall and beyond, pairing well with the pub or any better beer-drinking occasion.”
The Non-Dairy Almond Milk Stout is available in 6pk and a seasonal variety pack of 12oz cans only for a limited time and is flowing on draft till the end of the year. Tilray’s shares lost 1.9% on Friday. They fell another 0.5% in after-hours trading to finally close at $13.52.
Last month, Bank of America Securities analyst Heather Balsky reiterated a Buy rating on Tilray with a price target of $21.50 (58.2% upside potential).
The analyst said, “We expect Tilray to pursue additional opportunities in the U.S. with a focus on brands versus acquiring certain licenses. We view each incremental transaction in the U.S. cannabis market as a positive catalyst.”
Overall, the stock has a Moderate Buy consensus rating based on 4 Buys and 6 Holds. The average Tilray price target of $19.33 implies 42.2% upside potential. The company’s shares have gained 140.1% over the past year.
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