Aurora Cannabis reiterated as underperform by Jefferies after filing to issue $1 billion of securities [MarketWatch]
Aurora Cannabis Inc. - Common Shares (ACB)
Company Research
Source: MarketWatch
Jefferies reiterated its underperform rating on the stock of Aurora Cannabis Inc. on Thursday, after the company filed a shelf registration with the Securities and Exchange Commission to issue up to $1 billion of securities. "We had recently flagged the need for additional capital for a US push and therefore, given how critical the US is, this announcement should be viewed as welcome," analyst Owen Bennett wrote in a note to clients. "What it does confirm, however, is the disconnect between the Aurora, and broader Canadian, valuations and reality. The current multiple already arguably reflects some degree of US success, but that success has to be won first." Bennett had written recently that Aurora needed more cash to compete in the U.S. CBD space, never mind the U.S. THC space, and said he expected institutional investors would avoid the stock in favor of U.S. multi-state operators, given the growing expectations of reforms of the U.S.' strict cannabis laws. "We would suggest that th
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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