Aurora Cannabis Inc (ACB)

[Tha Part Time Er]

Source: Jarretera / Shutterstock.com

Many traders would say that ACB is marijuana-stock royalty. It’s one of the world’s biggest cannabis companies and should be able to weather the Covid-19 storm better than Aurora’s smaller competitors. Plus, the company recently earned nods of approval from a pair of prominent analysts.

The first comes from Cantor Fitzgerald analyst Pablo Zuanic. He increased his price target on ACB stock from 27 CAD to 29 CAD. Zuanic also reiterated his “overweight” rating on the shares, citing Aurora’s cost-cutting measures. For instance, the company announced 25% reduction in Aurora’s corporate staff over a six-month period.

Also, analysts at Stifel upgraded ACB stock from “sell” to “hold” recently. Noting Aurora’s “market share gains” and the “stronger Canadian market trends,” Stifel analysts raised their price target on the stock from 6.20 CAD to 17.50 CAD. With these upgrades in mind, Aurora’s shareholders should remain confident in a stock-price rebound in the near future.