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Aurora Cannabis Inc (2)
Symbol ACB
Shares Issued 198,115,363
Close 2021-09-29 C$ 8.62
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Globe says ATB's Gomes "cautious" on Aurora Cannabis

2021-09-30 09:16 ET - In the News

The Globe and Mail reports in its Thursday edition that ATB Capital analyst Frederico Gomes is keeping his "underperform" recommendation for Aurora Cannabis intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Gomes trimmed his share target by $1.50 to $6. Analysts on average target the shares at $7.62. Mr. Gomes thinks Aurora Cannabis is "gradually marching to profitability." On Monday Aurora posted revenue of $54.8-million, exceeding Mr. Gomes's $53.1-million estimate, while an adjusted earnings before interest, taxes, depreciation and amortization loss of $19.3-million was higher than his projection of a $17.2-million. Both results were lower than the consensus expectations on the Street. Mr. Gomes says in a note: "Sales remained flat as ACB continued its cost-cutting plan. While we view these cost-control efforts as crucial for the Company to achieve adj. EBITDA profitability, we believe that ACB's current market value implies overly demanding growth expectations considering the size of and competition in the Canadian recreational market, as well as the volatile nature of international medical cannabis sales. As such, we maintain our cautious stance on the stock."

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