Take a pass on Aurora Cannabis, GMP Securities says

Jul 12 20:07 2018 Print This Article

Aurora Cannabis (TSX:ACB) held an investor day at its Aurora Sky facility at the Edmonton International Airport this week, where GMP Securities analyst Martin Landry came away from the event impressed by the licensed producer’s earnings power.

In a research update to clients on Thursday, Landry reiterated his “Hold” recommendation on Aurora with a target price raise to $9.00 (from $8.00).

On Wednesday, Aurora announced a joint partnership with pre-roll technology company Wagner Dimas as well as a partnership agreement with cosmetics company Evio Beauty Group regarding CBD-infused products.

Those deals followed on the heels of last week’s announcements that the advisory firms ISS and Glass Lewis have recommended that Aurora shareholders vote in favour of the MedReleaf acquisition and that the deal had been cleared by Canada’s Competition Bureau. Throw in supply agreements locked up with the provinces of Alberta and BC and a sales license given to Aurora Vie, the company’s production facility in Pointe-Claire, Quebec, and you’ve got a busy couple of weeks for Aurora.

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Cantech Letter

Founded in 2008 by Nick Waddell, Cantech Letter is an online magazine focusing on Canadian technology. The site has grown into one of the most popular and respected financial sites in Canada, and was described by Canadian Business Magazine as “one of Canada’s premier technology newsletters”. Waddell, who is Senior Editor, is routinely called on by the mainstream media for perspective on Canadian technology, and has been featured on BNN, CTV News Channel, and the CBC program “The Lang and O’Leary Exchange” in addition to mainstream print media such as The Guardian, The International Business Times, The Globe and Mail, Macleans, The Waterloo Record , Canadian Business, Slate, and Business Insider. You can email Nick at nick@cantechletter.com Cantech Letter is focused on those companies listed on the TSX and TSXV Technology, Cleantech and Life Sciences Sectors. Each year we present the Cantech Letter Awards, which honor Canada’s Top Technology Stock and Top Technology Stock Executive.

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