skip to Main Content
Marijuana Stock Aurora Cannabis Is Soaring Because a Top Analyst Sees Profits Around the Corner

Aurora Cannabis stock was rising sharply on Tuesday, up more than 9% following a bullish call from Cowen & Co.

The back story. Aurora Cannabis stock (ACB) has been on a tear in 2019, rising 58.5% since the start of the year. It hasn’t been a straight shot upward for the Canadian cannabis company, but Aurora’s acquisition of Whistler Medical Marijuana drew cheers in January, as did its earnings in February. This has all come amid general enthusiasm for pot stocks on Wall Street and among other consumer products companies. There may be a long road ahead to get U.S. federal approval, but analysts are optimistic about Aurora’s prospects, along with that of many of its peers.

What’s new. Cowen’s Vivien Azer, a leading analyst in the sector, initiated coverage of Aurora with an Outperform rating and a price target of $14 Canadian. (The Alberta-based Aurora trades on both the New York Stock Exchange and the Toronto stock exchange under the same ticker.) “While establishing 20% market share has been an early success story in Canadian adult use cannabis, the company is uniquely positioned to drive leadership in both share and profitability,” Azer wrote. [Read more at Barron’s]

This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Stories

Jointly and Cova Collaborate to Transform Cannabis Retail with Jointly Matches, the First Goal-Based Data-Driven Sales Platform

PRESS RELEASE Los Angeles, California – May 30, 2023 – Jointly, a cannabis discovery and software company, today announced a groundbreaking partnership with Cova, a leading provider of cannabis point…

California Cannabis Credit Crunch

By Hilary Bricken, Principal, Harris Bricken The California cannabis market is truly struggling all the way around. Cannabis businesses and those who work with them closely face mounting financial pressure.…

New Mexico’s Mountaintop Extracts Aims for Pure Heights

With a name like Mountaintop Extracts, one might assume that delivering the highest high was the goal of the founders of this Albuquerque, New Mexico-based producer, but it was not.…

3 Proven Ways to Get Cannabis Brand Publicity from Journalists

To get publicity for your cannabis brand or business from journalists, you need to understand what writers and media professionals want from brands and businesses. Sending a pitch and expecting…

More Categories

Back To Top
×Close search
Search