05:24:21 EST Wed 01 Dec 2021
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Aurora Cannabis Inc (2)
Symbol ACB
Shares Issued 197,413,275
Close 2021-02-16 C$ 17.84
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Globe says Aurora Cannabis cut to "sell" from "hold"

2021-02-16 08:15 ET - In the News

The Globe and Mail reports in its Saturday edition that Desjardins Securities analyst John Chu lowered his rating for Aurora Cannabis ($15.80) to "sell" from "hold," citing recent share price appreciation that has seen the equity jump 100 per cent in the last three months. The Globe's David Leeder writes in the Eye On Equities column that Mr. Chu issued his downgrade after the company posted "modest" second quarter sales and an earnings miss. Mr. Chu cut his share target to $11 from $12, which is the average on the Street. Mr. Chu says in a note: "Aurora continues to lose market share as sales were down 17 per cent quarter-over-quarter, with its value-branded Daily Special flower sales accounting for most of the decline. With the pivot to premium flower still in the early stages, we suspect market share losses may persist for the near term at least. We still remain concerned regarding Sky's ability to grow premium flower testing at Sky is ongoing. ... The company took a step back as its EBITDA decreased sequentially, mostly due to underutilized capacity, which management suggested should improve modestly in the coming quarter. We have thus pushed back our positive EBITDA timeline to 2Q FY22 (from 1Q FY22)."

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