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Fly News Breaks for September 20, 2019
ACB
Sep 20, 2019 | 07:24 EDT
As previously reported, MKM Partners analyst Bill Kirk initiated Aurora Cannabis with a Sell rating and C$5 price target, telling investors that he believes profitability for cultivators will generally get worse before getting better given that supply will continue to grow and pricing is already decreasing. The analyst, who also sees the company's outsized exposure to medical marijuana limiting its growth opportunity, believes Aurora will need to raise some capital before it is able to show positive EBITDA.
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