Canaccord‘s Matt Bottomley just assigned a ‘buy’ rating on shares of Aurora Cannabis Inc. (TSX:ACB) (OTC:ACBFF) (FRA:21P) alongside a price target of $11.00 CAD per share, equivalent to roughly $8.37 USD. Bottomley’s price target is slightly higher than the $9.00 CAD per share price target reiterated last month by GMP’s Martin Landry.
Earlier this morning, Aurora Cannabis provided a shareholder update regarding the successful shipment of mother plants to from the Aurora Mountain facility to Denmark to commence populating the Phase I Aurora Nordic facility, a 100,000 square foot, retrofitted hybrid greenhouse, which will be ramping up to full production capacity of 8,000 kg per year of medical cannabis over the coming months.
For those who are not so familiar with Aurora Nordic, it is a 51%-Aurora owned cultivation subsidiary owned in partnership with Alfred Pederson & Son. The European facilities will be completed to EU GMP standards, incorporating leading edge technologies to capture the E.U. marijuana market going forward.
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