Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE | TSX: ACB) published its financial statements yesterday. Following the publication, some analysts began to change their target.
Piper Jaffray Piper Jaffray Analyst Michael Lavery has lowered his price target for Aurora Cannabis to $3 from the company’s revenue and EBITDA were below his fiscal Q1 estimates.
The analyst keeps a neutral rating on the shares. The slow rollout of Ontario retail stores may continue hindering Aurora’s growth in the near-term, and the launch of derivatives in December “remains uncharted territory,” Lavery told investors in a post-earnings research note. Aurora has industry leading production capacity, but it’s more likely to be in Canada, says the analyst
Cantor Fitzgerald analyst Pablo Zuanic upgraded Aurora Cannabis to Overweight from Neutral with a price target of C $5.85.
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