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Sept. 21, 2022, 8:30 a.m. EDT

Cantor trims Aurora Cannabis price target, reiterates overweight rating

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By Steve Gelsi

Cantor Fitzgerald analyst Pablo Zuanic on Wednesday reiterated an overweight rating on Canada's Aurora Cannabis Inc. /zigman2/quotes/210559470/composite ACB -6.61% /zigman2/quotes/203734337/delayed CA:ACB -6.71% and reduced his price target to $3 a share from $3.12 a share. Zuanic said he expects no significant changes in top line trends in the coming quarter, after Aurora reported flat sequential fourth-quarter sales of about C$50 million. The company's medical cannabis business with a 24% share in Canada as well as its presence in key markets overseas such as Germany now accounts for more than 80% of gross profits. "Aurora is arguably among the best positioned companies (of only a handful) to benefit as Germany grows its medical market and legalizes rec, and as other European markets also follow," Zuanic said. Shares of Aurora Cannabis are down 0.7% in premarket trades.

/zigman2/quotes/210559470/composite
US : U.S.: Nasdaq
$ 1.13
-0.08 -6.61%
Volume: 11.73M
Dec. 7, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$314.31 million
Rev. per Employee
$123,259
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/zigman2/quotes/203734337/delayed
CA : Canada: Toronto
$ 1.53
-0.11 -6.71%
Volume: 3.82M
Dec. 7, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$428.98 million
Rev. per Employee
$157,323
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