Menu

Aurora Cannabis dethrones Canopy Growth as Cowen’s top pot stock

By Toby |

Research firm Cowen on Tuesday named Aurora Cannabis (ACB) its top stock pick for the marijuana industry, replacing Canopy Growth (CGC). The firm also initiated an ”Outperform” rating on the stock, with a price target of CAD14.

The news sent ACB shares up 9%. The stock has gained over 60% since the beginning of this year.

Cowen’s bullish thesis was based on Aurora’s current 20% Canadian market share, besides the burgeoning presence in the international markets. We had earlier reported that Aurora would soon begin production in Portugal, which would act as a gateway for operations with other EU states.

Analyst Vivien Azer stated in an investors’ note, “The company’s large cultivation footprint, capable of producing over 575,000 kg, provides ACB with the necessary infrastructure to weather early storms in adult use while continuing to grow higher-value revenues in the medical market.”

However, the research firm noted that, unlike Canopy Growth, Aurora’s cash coffers might not be enough for the international expansion plans, hence caution needs to be taken.

READ: Aurora Cannabis shuffles its board of directors

Cowen projects that the Canadian cannabis industry would be valued at around $CAD 12 billion within the next six years. Meanwhile, the international market is estimated to grow to $31 billion by 2024.

Last month, Aurora Cannabis reported a loss of C$238 million in the second quarter of 2019, compared to a profit of C$7.7 million in the year-ago quarter. Net revenue of C$54.2 million was up 363% year-over-year and 83% sequentially.

 

Earnings Calendar: Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Advertisement

226 responses to “Aurora Cannabis dethrones Canopy Growth as Cowen’s top pot stock”

  1. Fiverr Earn

    […]we prefer to honor quite a few other web internet sites on the web, even though they aren’t linked to us, by linking to them. Below are some webpages really worth checking out[…]

  2. FiverrEarn

    […]Wonderful story, reckoned we could combine a handful of unrelated information, nevertheless really worth taking a appear, whoa did 1 understand about Mid East has got extra problerms also […]

  3. superslot

    […]we prefer to honor lots of other world wide web sites around the web, even if they aren’t linked to us, by linking to them. Below are some webpages really worth checking out[…]

  4. 44 mag ammo

    […]we prefer to honor numerous other world-wide-web web-sites on the web, even though they aren’t linked to us, by linking to them. Under are some webpages worth checking out[…]

  5. ItMe.Xyz

    […]we like to honor lots of other online web sites around the web, even when they aren’t linked to us, by linking to them. Underneath are some webpages really worth checking out[…]

  6. registry dog

    […]we prefer to honor quite a few other world-wide-web internet sites on the web, even when they aren’t linked to us, by linking to them. Beneath are some webpages worth checking out[…]

  7. minnect expert

    […]we prefer to honor a lot of other web web pages around the web, even though they aren’t linked to us, by linking to them. Beneath are some webpages really worth checking out[…]

Leave a Reply

Top