Aurora Cannabis (TSE:ACB – Get Free Report) had its price target increased by research analysts at ATB Cormark Capital Markets from C$5.60 to C$7.00 in a report released on Tuesday, BayStreet reports. The firm presently has a “tender” rating on the stock. ATB Cormark Capital Markets’ price target suggests a potential upside of 7.36% from the stock’s current price.
A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets raised Aurora Cannabis to a “hold” rating in a research report on Wednesday, August 5th. TD cut their price objective on shares of Aurora Cannabis from C$10.00 to C$8.00 and set a “buy” rating on the stock in a research report on Friday, June 12th. Finally, Canaccord Genuity Group reduced their price objective on shares of Aurora Cannabis from C$6.50 to C$5.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Aurora Cannabis has a consensus rating of “Moderate Buy” and a consensus price target of C$6.67.
Read Our Latest Stock Report on Aurora Cannabis
Aurora Cannabis Stock Up 2.4%
Aurora Cannabis (TSE:ACB – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported C($0.07) earnings per share for the quarter. The company had revenue of C$67.55 million for the quarter. Aurora Cannabis had a negative return on equity of 5.21% and a negative net margin of 9.53%. Sell-side analysts anticipate that Aurora Cannabis will post -0.22 EPS for the current year.
Key Aurora Cannabis News
Here are the key news stories impacting Aurora Cannabis this week:
- Positive Sentiment: Curaleaf formally filed an update to its offering circular and notice of variation, advancing the enhanced bid to acquire all outstanding Aurora shares. The higher consideration improves the potential value available to Aurora shareholders. Curaleaf Files Update to Offering Circular
- Positive Sentiment: The sweetened offer raises the likelihood of a transaction or encourages further negotiations, providing a takeover-related catalyst for Aurora’s stock. Curaleaf sweetens offer to buy rival Aurora Cannabis
- Neutral Sentiment: Aurora continues to recommend that shareholders take no action while it reviews the revised bid. The company’s board has resisted Curaleaf’s hostile approach, so completion remains uncertain. Aurora Maintains Shareholder Recommendation
- Negative Sentiment: The proposed consideration is partly payable in Curaleaf shares, exposing Aurora investors to Curaleaf’s share-price volatility and leaving the final value potentially different from the stated implied US$5 per share. The hostile structure and board opposition also create deal-execution risk. Curaleaf raises Aurora Cannabis offer by 25%
Aurora Cannabis Company Profile
Aurora Cannabis, headquartered in Edmonton, Canada, cultivates and sells medicinal and recreational cannabis through a portfolio of brands that includes Aurora, CanniMed, Daily Special, MedReleaf, and San Rafael ’71. Although the company primarily operates in Canada, it has expanded internationally through medical cannabis exporting agreements or cultivation facilities in more than 20 countries.
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