Aurora downgraded by BMO citing ‘out-of-line’ valuationgreat, just great
Arguing the stocks valuation is now out of line with fundamentals, BMO Capital Markets has downgraded Aurora Cannabis (ACB) to underperform from market perform.Raising his price target to C$9 from C$7, the analyst, Tamy Chen, however, expresses his surprise over Wall Streets aggressive forecasts for the company.The stock has already lost ~62.4% in value during the year,and the companyrecently announced it was laying off 200 employees amid plans to cut a quarter of the production capacity at its flagship Aurora Sky facility