- Aurora Cannabis Inc.’s fiscal third-quarter numbers showed “encouraging signs, for a change,” according to Cantor Fitzgerald analyst Pablo Zuanic, who reiterated his overweight rating and C$22 ($16) stock price target in a Friday note.
- The Canadian company posted sales that were 13% above FactSet consensus, with recreational weed up 24% from the prior quarter, “and began to show cost and cashflow improvements that give credence to the notion of positive EBITDA by the Sep quarter and positive cash flow by late FY21,” said the note.
- The company also said that a new $250 million equity facility was a “backstop” and won’t be needed if targets are met.
- Aurora, with 1.2 times net debt to current sales, is not in the same league as Canopy Growth Corp
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