The Globe and Mail reports in its Tuesday, Feb. 9, edition that CIBC World Markets analyst John Zamparo raised his share target for Aurora Cannabis to $17 from $15. The Globe's David Leeder writes in the Eye On Equities column that Mr. Zamparo continues to rate the shares "neutral." Analysts on average target the shares at $11.95.
Mr. Zamparo says in a note: "Though the reduced timeline to U.S. legalization supports higher multiples across the space, and although Aurora Cannabis's valuation remains well below all-time highs, current market conditions appear to reflect excessive optimism on operations, while for Aurora, meaningful profitability will likely take time." The Globe reported on Nov. 18 that ATB Capital Markets analyst David Kideckel had upgraded Aurora Cannabis to "sector perform" from "underperform." The shares could then be had for $9.40. The Globe reported on Dec. 18 that Desjardins Securities analyst John Chu continued to rate Aurora "hold." The shares could then be had for $12.35.
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