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June 6, 2022, 7:42 a.m. EDT

Stifel upgrades Aurora Cannabis to hold from sell

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By Steve Gelsi

Stifel analyst W. Andrew Carter on Monday upgraded Aurora Cannabis Inc. /zigman2/quotes/210559470/composite ACB -6.61% /zigman2/quotes/203734337/delayed CA:ACB -6.71% to hold from sell and trimmed his price target to C$2.15 ($1.71) a share from C$2.50 a share after a $173 million financing deal that the cannabis company announced recently. Carter said the company's enhanced liquidity and reduced balance sheet risk have not been fully appreciated by investors. "We believe the shares have rerated to a level properly considering the near-term challenges in returning to year over year growth with modest cash needs," Carter said. "We believe Aurora has outlined a pragmatic approach that recognizes the limitations of the Canadian adult use market while adjusting its cost structure." Shares of Aurora Cannabis rose 1.3% in premarket trades. The stock is down 70% in 2022, compared to a drop of 72.8% by the Cannabis ETF /zigman2/quotes/213173823/composite THCX -6.41% .

/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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/zigman2/quotes/213173823/composite
US : U.S.: NYSE Arca
$ 2.92
-0.20 -6.41%
Volume: 55,264
Dec. 7, 2022 4:00p
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