Aurora Cannabis (ACB) stock tanked nearly 8.2% after the market closed on January 16 due to the company’s announcement that it would raise ~$250 million via a private debt offering to fund its expansion activities in Canada and global markets.
Let’s look at what analysts recommend for the stock in January.
Aurora’s price target
As of January 16, Aurora Cannabis’s consensus 12-month price target from six analysts is 11.8 Canadian dollars, ~7% lower than its price target of 12.7 Canadian dollars a month earlier.
Aurora Cannabis closed at nearly 9.7 Canadian dollars on January 16. Investors could see an upside of nearly 21% if the stock’s current price converges with its price target.
Just last week, on January 9, Aurora Cannabis received a price target cut from Eight Capital. Its price target was cut from 17 Canadian dollars to 15 Canadian dollars.
The overall consensus recommendation for Aurora Cannabis in the current month is a “buy,” similar to Tilray (TLRY) and HEXO (HEXO). As we can see in the chart above, two analysts (HMMJ) have given the stock “strong buys,” and two have given it “buys.” Just one analyst has a “hold” on Aurora Cannabis, and none have given it “sells.”
Next, we’ll discuss analysts’ price target and ratings for Canopy Growth (WEED).