The Globe and Mail reports in its Thursday, Aug. 8, edition that Desjardins Securities analyst John Chu continues to rate Aurora Cannabis ($8.81) "buy" and target the shares at $16.50. The Globe's David Leeder writes that analysts on average target the shares at $12.98. Aurora now expects new revenue of $100-million to $107-million, missing both Mr. Chu's previous $119-million forecast and the $111-million expectation on the Street. Mr. Chu says in a note: "We are lowering our net sales forecast to $106-million from $119-million to reflect slightly lower recreational sales volumes by 1,600 kilograms (to 11,800 kg from 13,400 kg) and changing the recreational sales volume mix to be more weighted toward lower-margin dry flower vs oil. The lower sales volumes and the shift in the product mix drives our gross margin down slightly (to 56.5 per cent from 59.0 per cent) and our adjusted EBITDA forecast moves to a loss of $2.5-million from a loss of $0.2-million. The company continues to show good sales momentum, albeit slightly lower than we had projected previously. The higher production volumes should imply good sales growth for the upcoming quarters, although the path to positive EBITDA may be a bit behind schedule."