Aurora Cannabis (NASDAQ: ACB) (TSX: ACB) reported a 45% year-over-year plunge in consumer cannabis net revenue, while its total net revenue in the fourth quarter of fiscal 2021 amounted to CA$54.83 million ($43.4 million), down from CA$68.43 million in the same period.
On the other hand, medical cannabis net revenue grew by 9% from the prior-year period due to continued growth in the international medical business. On a sequential basis, the consumer segment posted an 8% improvement despite lockdowns in key markets that affected overall cannabis sales.
BofA analyst Heather Balsky lowered her price objective to CA$10/US$7.95 from CA$11/US$9.12, due to the lower estimates while reiterating a Neutral rating on Aurora's stock.
Balsky lowered her F22/23E sales by 11/19% to $279/358 million to "reflect a more gradual sales recovery in Canada."
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