Aurora Cannabis Target Price Lowered to $1.75 at CIBC2023-02-10 10:12:30 AM ET (MT Newswires)
10:12 AM EST, 02/10/2023 (MT Newswires) -- CIBC Capital Markets lowered its price target on Aurora Cannabis Inc. (ACB.TO) to $1.75 from $2.25 on Friday.
Analyst John Zamparo maintained a Neutral rating on shares of the Canadian cannabis producer.
"Aurora's strength in high-quality markets provides reason for optimism, and healthy margins combined with recent cost cuts have resulted in significant improvements," Zamparo said in a note to clients.
"Ultimately though, until ACB becomes self-funded and commits to no further equity dilution, we do not see significant upside in the stock, even if valuation and the balance sheet are more attractive than most peers," the analyst said.