Canadian cannabis company Aurora Cannabis Inc (NYSE: ACB) reported fourth-quarter results Wednesday that fell short of the company’s own expectations and received a mixed review from two Street analysts.
Canaccord Genuity analyst Matt Bottomley maintained a Speculative Buy on Aurora’s Toronto-listed stock with an unchanged CA$13.50 price target.
Bank of America Merrill Lynch analyst Christopher Carey maintained at Neutral with an unchanged CA$11 price target.
Canaccord: Impressive Growth Metrics
Aurora’s earnings report was mostly in-line with expectations and signaled impressive growth, Bottomley said in a Wednesday note. Revenue of CA$98.9 million fell short of expectations, but that could be attributed to a higher-than-expected proportion of revenues from the ancillary business that ended up servicing the company directly, which resulted in intercompany eliminations to revenue, the analyst said.
On the other hand, cannabis net sales of CA$94.6 million rose 61% from the prior quarter and beat expectations of CA$92.7 …