Aphria Gets a 58% Price Target Bump From a Prominent Analyst

Aphria (NASDAQ: APHA) has become a favorite marijuana stock recently due to better-than-expected quarterly results and the upcoming merger with Peer Tilray (NASDAQ: TLRY). The forecaster believes these second quarter results "underscore Aphria's strength" despite a decline in sales in the company's main Canadian recreational marijuana segment. Stifel is maintaining its hold rating on the stock as any subsequent price appreciation (also based on prospects for the US decriminalization of marijuana at the federal level) will limit the stock's outperformance potential.

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