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Aurora Cannabis Inc (2)
Symbol ACB
Shares Issued 198,018,343
Close 2021-05-18 C$ 8.91
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Globe says Carter keeps Aurora Cannabis at "sell"

2021-05-18 07:41 ET - In the News

The Globe and Mail reports in its Tuesday edition that Stifel, Nicolaus & Co. analyst W. Andrew Carter has reiterated his "sell" recommendation for Aurora Cannabis ($8.50). The Globe's David Leeder writes that Mr. Carter lowered his share target to $6.50 from $7.80. Analysts on average target the shares at $8.93. Mr. Carter says in a note: "While medical revenue was stable with Aurora outlining a confident approach, the challenges in the Canadian adult use market drove a 50-per-cent year-over-year decline in Consumer sales with Aurora's market shares losses amplified by the market challenges. We believe Aurora is outlining a pragmatic approach to stabilizing the Canadian adult use business focusing on increased quality, premium brands, and strengthened capabilities while enjoying the financial resources to patiently execute this strategy with newly announced cost savings providing added flexibility. But we believe the structural difficulties of the Canadian market will at best delay stabilization, and absent evidence of a stronger performance, we believe the shares will be under consistent pressure." The Globe reported on May 15 that ATB Capital had cut Aurora to "underperform." It was then worth $8.29.

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