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Why Aphria Stock Soared Today

TheMotleyFool

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Shares of Aphria (NASDAQ: APHA) surged on Tuesday, following bullish analyst commentary. As of 3 p.m. EST, Aphria's stock price was up more than 25%.

Cantor Fitzgerald analyst Pablo Zuanic reiterated his overweight rating on Aphria's shares and boosted his one-year price forecast from $20.50 to $25.62. Zuanic's new target is roughly 51% higher than Aphria's closing price on Friday and 20% above its current price near $21.30.

Aphria and Tilray's alliance could create a powerful force in the global cannabis market. Image source: Getty Images.

Source Fool.com

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