The Globe and Mail reports in its Tuesday, Sept. 17, edition that Stifel analyst Andrew Carter lowered his rating for Aurora Cannabis to "sell" from "hold." The Globe's David Leeder writes in the Eye On Equities column that Mr. Carter cut his share target by $2 to $5. Analysts on average target the shares at $11.38. For Mr. Carter last week's release of lower-than-anticipated fourth quarter results point to a "less robust in-market performance and difficulty to continue positioning for the larger global opportunity." He says in a note: "The headlines were bad, the details were worse. We believe Aurora's financing efforts will be challenged against the backdrop of overwhelmingly negative investor sentiment toward the sector, damaged credibility, and limited catalysts near-term to drive enthusiasm for the shares." Mr. Carter says the Edmonton-based company will be "challenged in its ability to continue investing aggressively especially to establish a U.S. position."
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