The Globe and Mail reports in its Wednesday, May 20, edition that Canaccord Genuity analyst Matt Bottomley says Aurora Cannabis is still on a rocky road to profitability, despite it posting third quarter results that exceeded his expectations. The Globe's David Leeder writes in the Eye On Equities column that Mr. Bottomley, who says he is "cautious" on Aurora, continues to rate the shares "hold." Mr. Bottomley lowered his share target to $24 from $27 (having taken into account a recent 12-to-1 share consolidation). Analysts on average target the shares at $13.12. Mr. Bottomley says in a note: "The company's outsized opex spend continues to be the primary area of concern for most investors (in our view). Although ACB was able to make meaningful progress in reducing these expenses via a number of cost control measures in place, it still printed a sizable FQ3/20 adjusted earnings before interest, taxes, depreciation and amortization loss of $50.9-million, behind our forecast loss of $47.2-million. In addition, management reiterated its expectation of eventually lowering its opex to $40-million to $45-million and inflecting into positive adjusted EBITDA territory in FQ1/21 (ended Sept/20)."