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Aurora Cannabis Inc (2)
Symbol ACB
Shares Issued 198,018,343
Close 2021-05-17 C$ 8.50
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Globe says Aurora near-term outlook called "uncertain"

2021-05-17 07:37 ET - In the News

The Globe and Mail reports in its Saturday, May 15, edition that ATB Capital Markets analyst David Kideckel likes it that Aurora Cannabis ($8.29) is downsizing. The Globe's David Leeder writes in the Eye On Equities column that even so, Mr. Kideckel downgraded his recommendation to "underperform" from "sector perform," and price target to $7.50 from $13. He says he is taking a "more cautious stance on the stock." Analysts on average target the shares at $12.12. Mr. Kideckel says Aurora's near-term outlook remains "uncertain." He points to dwindling sales in the Canadian recreational market, a lack of visibility over international medical cannabis sales and the "still immaterial" sales from U.S. cannabidiol products. Mr. Kideckel says in a note: "Over the long-term, we maintain our view of Aurora as one of the leaders in cannabinoid-based science, including biosynthetic cannabinoids (with Anandia), which we believe will be a key long-term value driver for the entire sector, as well as a leader in medical cannabis, with attractive growth optionality over the long-term. ... We have reduced our revenue and profitability estimates due to uncertainty in the domestic and international markets."

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