Price target bump
On September 25, Canaccord Genuity raised its price target for Aurora Cannabis (ACB) (ACBFF) to 13 Canadian dollars from 11 Canadian dollars. The stock closed almost 4.5% lower at 12.2 Canadian dollars on September 26 but was not far from Canaccord Genuity’s updated price target following the company’s 4Q earnings.
While Canaccord Genuity raised its price target for Aurora Cannabis, the current consensus price target for the company was at 11 Canadian dollars, which was about 10% lower than the closing price of Aurora Cannabis on September 26. However, month-over-month, the consensus price target was higher than the target price of nine Canadian dollars in August, which indicates a bullish sentiment towards the stock. The overall consensus recommendation for the stock was a “buy” as of September 26.
The overall consensus (HMMJ) recommendation for Canopy Growth (CGC) (WEED) was also a “buy” on September 26 with an overall price target of 61.5 Canadian dollars. Tilray (TLRY), on the other hand, also had a consensus “buy” recommendation with a price target of 49.3 Canadian dollars. However, Tilray has been highly volatile in recent weeks as a result of heavy speculation. The stock closed at $114, which was almost twice the consensus price target on September 26.