In a recently released analyst research report, GMP Securities‘ Managing Director of Equity Research for Special Situations and Healthcare, Martin Landry, just reiterated his hold rating on shares of international cannabis conglomerate Aurora Cannabis Inc. (TSX:ACB) (NYSE:ACB) with a below-average price target.
While the average of current analyst price targets for shares of Aurora sits at $12.83 CAD per share suggesting >30% upside, Martin Landry’s new price target of $9.50 CAD per share implies a potential downside of approximately 1.89% based on the last traded price of $9.68 CAD on the TSX.
A potential catalyst for the updated price target is Aurora’s rising costs and diminishing margins.
According to Aurora’s most recent earnings release, “Cash cost to produce per gram of dried cannabis sold temporarily increased from $1.45 in the previous quarter to $1.92.”
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