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Whether you are an existing or potential investor in Aurora Cannabis Inc. (TSX: ACB) (NYSE: ACB), it may be worthwhile to seek the advice of a Wall Street badyst on the direction it takes . Better than one badyst's opinion, there are five.
This is particularly useful now that Aurora has recently started selling cannabis oils to German pharmacies after receiving all the necessary approvals from the Canadian and German regulatory authorities. Aurora's shares also surged recently following the appointment of Nelson Peltz, director of Procter & Gamble, as strategic advisor.
Do the opinions of badysts even count?
Analysts have existed for as long as stocks, but they have never been as influential as they are today. Given the speed with which information circulates in the investor ecosystem, an badyst update can cause a company's stock price to fall or flare up.
Analysts are not, however, focused solely on the market. They are also highly qualified investment professionals who have spent years studying business and investing for designations such as CFA or CPA. Their knowledge, combined with their unparalleled access to business leaders and information, means that badysts' updates always deserve to be read.
With regard to marijuana stocks, it's no different.
What badysts think about Aurora Cannabis
At present, nine different Wall Street badysts cover the shares of Aurora Cannabis. In the last 2 months, five of them have provided advice on what to expect.
From the lowest price target to the highest price target, here's where badysts think ACB's actions are heading:
C $ 10.00 per share – BMO Capital Markets
CAD $ 12.00 per share – Jefferies
CAD $ 13.00 per share – Canaccord Genuity
CAD $ 14.00 per share – Cowen & Co.
$ 15.00 CAD per share – GMP Securities
Conclusion
By combining the price targets for the five badysts above, we can see an average price target for badysts of C $ 12.80 per share. Based on the last traded price of C $ 12.10 per share on the TSX, this represents only 5.78% of the potential increase in ACB shares. Meanwhile, badysts see more than 100% increase for the shares of Canopy Rivers Inc. (TSXV: RIV) (OTC: CNPOF).
As far as the opinions of the badysts are concerned, however, the price target is not even half of it. All badyst price targets are subject to change and most badysts often update their prospects and price targets.
What really matters is Why and How each badyst has arrived as their price goals. This helps us better identify the catalysts that can contribute to Aurora's success, as well as the risks the company may face before reaching its full potential.
To stay abad of the actions of badysts affecting marijuana stocks, be sure to sign up for PRO here.
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