Tilray Trims Brewery Footprint to Six Sites as Jefferies Lifts Target — and Keeps Its Sell Rating
Published on 10/30/2026 at 03:10 | Editorial boerse-global.de
Tilray Brands has wrapped up the consolidation of its US brewing operations, cutting its production footprint from ten sites to six, and is now turning to the next leg of the overhaul: tightening distribution and offloading real estate it no longer needs. The cannabis-and-beverage group said the latest phase, which includes selling or otherwise monetizing surplus brewery and warehouse properties, should deliver roughly $20 million in annualized savings by the end of fiscal 2028.
The company's head of corporate affairs has framed the slimming down of the US beer business and efficiency gains across the wider portfolio as core priorities. Alongside the real-estate moves, Tilray plans to further consolidate its network of distribution partners.
Guidance Held Steady
Management reaffirmed its fiscal 2027 outlook, projecting adjusted EBITDA of between $68 million and $75 million — the same range it had previously put forward. The $20 million savings target applies to the beverage division, while the brewery-site reduction is already complete.
Should investors sell immediately? Or is it worth buying Tilray Brands?
Next up on the US agenda is the launch of Tilray's beer partnership with Carlsberg, slated to kick off on January 1, 2027. Tilray is aiming for roughly one million cases in the venture's first year of sales — a target figure for the planned rollout rather than a forecast already in hand.
Jefferies Raises Its Number, Not Its Rating
Jefferies analyst Kaumil Gajrawala lifted his price target on the stock from $12 to $13, according to media reports, pointing to the brewery restructuring and the expected volumes from the Carlsberg tie-up. The upgrade to the target did not come with a warmer view on the shares: Gajrawala kept his "Reduce" rating, so the higher mark does not signal an improved investment recommendation from the house.
The restructuring news lands against a backdrop of strong top-line momentum. Tilray reported record net revenue of $257 million for the first quarter of fiscal 2027, a 23% jump year over year, with a gross margin of 30%. Those quarterly figures came with a reaffirmation of the company's adjusted operating profit guidance as well.
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