00:42:42 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,020,378,291
Close 2019-09-24 C$ 6.29
Market Cap C$ 6,418,179,450
Recent Sedar Documents

Globe says CIBC's Zamparo "neutral" on Aurora Cannabis

2019-09-25 07:45 ET - In the News

The Globe and Mail reports in its Wednesday, Sept. 25, edition that despite Aurora Cannabis's "market leadership position," CIBC World Markets analyst John Zamparo rates the shares "neutral." The Globe's David Leeder writes in the Eye On Equities column that Mr. Zamporo set a share target of $7, which falls well short of the average on the Street of $10.74. Mr. Zamporo says in a note: "Aurora has already established itself as a dominant player in the Canadian adult-use and medical markets, as well as internationally, and has executed its adult-use strategy admirably. However, at Aurora's valuation, we wish to see greater clarity on a U.S. strategy, visibility on more material strategic partners, and, most importantly, a balance sheet more capable of making significant investments in future growth opportunities outside cultivation. Aurora fits the description of a brand-building, globally expanding business. While ACB's valuation won't compare favourably to traditional CPG industries, it's the cheapest among the large-cap names, which we define as enterprise value exceeding $3 billion." The Globe reported on Sept. 17 that Stifel analyst Andrew Carter cut Aurora to "sell." The shares were then worth $7.26.

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