The Globe and Mail reports in its Friday, June 16, edition that ATB Capital Markets analyst Frederico Gomes has reaffirmed his "sector perform" recommendation for Aurora Cannabis. The Globe's David Leeder writes in the Eye On Equities column that Mr. Gomes gave his share target a 30-cent trim to $1.50. Analysts on average target the shares at $1.54. Mr. Gomes says while Aurora Cannabis possesses a "strong" balance sheet, the growth catalysts are "still unclear." Mr. Gomes says Aurora's third quarter 2023 financial results "showed continued progress on cost control but a lack of growth." Mr. Gomes says in a note: "Management guided to positive FCF by the end of calendar 2024, mostly through an additional $40-million in annualized cost savings. We view the guidance as a sign that Aurora is getting closer to a right-sized cost structure, but we are wary of the still-long runway (seven quarters) to reach positive FCF and the prospect of continued cash burn in the interim (the company burned $27.6-million during the quarter). Management guided to flat cannabis net revenues and adj. gross margin quarter-over-quarter in Q1/FY24 and noted that the quarterly SG&A run-rate would remain below $30-million."