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Aurora Cannabis Inc (2)
Symbol ACB
Shares Issued 116,320,703
Close 2020-11-10 C$ 10.78
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Globe says Desjardins lowers Aurora Cannabis to "hold"

2020-11-11 08:13 ET - In the News

The Globe and Mail reports in its Wednesday, Nov. 11, edition that Desjardins Securities analyst John Chu lowered Aurora Cannabis to "hold" from "buy" on Tuesday. The Globe's David Leeder writes in the Eye On Equities column that Mr. Chu trimmed his share target to $13 from $14. Analysts on average target the shares at $10.52. Mr. Chu says in a note: "We believe the stock is ahead of itself, given the Republicans are expected to maintain their Senate majority. Aurora appears on pace to reach positive EBITDA by 2Q, and plans to: (1) grow market share in profitable categories (ie premium/super premium); (2) enhance medical market share (in Canada and internationally); and (3) build Reliva's brands in the U.S. CBD market. Aurora is at the beginning of its transformation, planning to outsource and control its inventory build. It continues to lose market share, which is a concern. We have reduced our gross margin outlook modestly to reflect potential pricing pressure and increased competition in the premium/super premium segment. As a partial offset, we have lowered our opex forecast. ... The company is looking at new formats and packaging, which will take some time to figure out."

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