Fly News Breaks for January 13, 2020
Jan 13, 2020 | 07:19 EDT
Cantor Fitzgerald analyst Pablo Zuanic would use the recent weakness in shares as a buying opportunity. Poor liquidity makes the stock sensitive to downgrades and "misplaced market chatter," Zuanic tells investors in a research note. The departure of Cam Battley was good news, a planned asset sale is being done pretty much at book value, and debt covenants imply positive EBITDA by mid-year, contends the analyst, who has "increased conviction" on the shares after speaking to management. Battley was let go, he did not resign as the market seems to have speculated, says Zuanic. The analyst senses a greater focus and a greater urgency regarding costs and cash flow at Aurora Cannabis and keeps an Overweight rating on the shares with a C$5 price target.
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