Aurora Cannabis initiated as hold at Needham on concerns of liquidity risk in the second half [MarketWatch]
Aurora Cannabis Inc. - Common Shares (ACB)
Company Research
Source: MarketWatch
Aurora Cannabis initiated as hold at Needham on concerns of liquidity risk in the second half Needham initiated coverage of Aurora Cannabis Inc. ACB, +1.01% ACB, -5.88% on Tuesday with a hold rating and $1.50 price target. Analysts Matt McGinley and Evan Greenblatt said the company has established itself as a low cot producer of cannabis, but remains deeply unprofitable and has to scale back its operating structure while attempting to grow revenue. "We expect restructuring to produce an entity capable of generating positive EBITDA by F1Q21, but any shortfalls in cost reduction or market development places the company at liquidity risk in 2H20," the analysts wrote in a note to clients. The Canadian cannabis market is structurally impaired with a shortage of retail stores clashing with excess production capacity, price pressures from the black market, challenging branding rules and limited signs that Cannabis 2.0 will have a meaningful impact in the first half. "We are optimistic
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ACB
News
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ACB
Analyst Actions
- 2/8/24 - CANACCORD
ACB
Sec Filings
- 3/1/24 - Form 6-K
- 2/16/24 - Form 6-K
- 2/8/24 - Form 6-K
- ACB's page on the SEC website