Aurora Cannabis, Inc. (ACB) Results Look Better Than Feared - Stifel
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Stifel analyst Andrew Carter reiterated a Sell rating and $6.00 price target on Aurora Cannabis, Inc. (NASDAQ: ACB) after F4Q21 net revenue of C$55.7 million was stable from F3Q21 despite being down 19% y/y. Net cannabis revenue was $54.8 million with Medical revenue slightly below expectations, but Consumer revenue well ahead, growing 9%
The analyst stated "F4Q21 revenue was above our expectations with a stronger performance from the Consumer business (helped by Quebec) with the C$13.9 million adjusted EBITDA loss essentially matching our estimate. We continue to believe the company is outlining a pragmatic approach focusing on the most profitable growth avenues with cost savings in-hand providing a path to profitability with the current revenue base. With roughly C$400 million in cash and
modest base business cash needs, we believe the company has the resources and flexibility to patiently pursue its strategy."
Shares of Aurora Cannabis, Inc. closed at $6.39 yesterday.
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