17:16:02 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc (2)
Symbol ACB
Shares Issued 113,042,023
Close 2020-06-24 C$ 18.65
Market Cap C$ 2,108,233,729
Recent Sedar Documents

Globe says "uncertainty" seen clouding Aurora outlook

2020-06-25 08:58 ET - In the News

The Globe and Mail reports in its Thursday, June 25, edition that Canaccord Genuity analyst Matt Bottomley trimmed his financial expectations and target price for shares of Aurora Cannabis ($18.65) in response to Tuesday's update to its business transformation plan, noting "sizable layoffs and impairments [are] in the pipeline." The Globe's David Leeder writes in the Eye On Equities column that while maintaining a "hold" rating, Mr. Bottomley dropped his share target for Aurora to $21 from $24. Analysts on average target the shares at $15.60. Mr. Bottomley says in a note: "On the back of Tuesday's corporate updates, although we believe the rightsizing of Aurora's operations is a crucial step in the company's path to profitability, with more than $1.2-billion of announced write-offs so far in the first six months of 2020 (or 25 per cent of the book value of ACB's net assets), a high degree of uncertainty still clouds this name. As a result, we have lowered our pricing assumptions for dried bud and added a 100 basis points premium to our adult-use valuation for execution risk. As a result, we are lowering our price target." Elsewhere, Stifel analyst Andrew Carter raised Aurora to "hold" from "sell."

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