Tilray Inc. (NASDAQ: TLRY) stock rises during current market trading. What is driving it high?

Tilray and Aphria have completed their merger. Tilray was recently upgraded from underperform to buy by Jefferies analyst Owen Bennett, who told investors in a research report that TLRY has achieved the “perfect match” and that it has enormous upside opportunities in the United States, Canada, and Europe.

Although the merged firm will retain the Tilray brand, the corporation will be run by Aphria executives. Its CEO will continue to lead the current Tilray, and he has also been appointed chairman. Bennett views the post-merger business as far and away from the front-runner in the Canadian marijuana industry, and he believes it will continue to grow its market share given the strength of the weed portfolios both firms bring with them.

He also claims Tilray is well-positioned to profit in the new U.S. economy, and that if the federal government legalizes marijuana in the coming years, the firm would be able to take advantage of the changes the reform will bring.

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While Wall Street is bullish on Tilray, not everyone sees the same potential. Cannacord Genuity analyst Matt Bottomley, for example, claims that much of the cannabis company’s supremacy is now baked into the share price with a “significant premium.” Still, after resuming coverage of Tilray with a $17 per share price goal, Bottomley expects a 20% gain from where the stock is now.