Cowen & Co.’s Vivien Azer reiterated an Outperform rating on the marijuana stock, and says the new partnership with Nelson Peltz will “help accelerate performance.”
Aurora Cannabis stock has already jumped more than 81% since the start of the year, but recent management meetings keep Cowen & Co.’s Vivien Azer confident that it can keep going higher.
What’s New. A big chunk of Aurora’s recent rally comes from news earlier this week that Nelson Peltz is joining the company as a strategic advisor. As Barron’s reported, Peltz will work with Aurora to “explore potential partnerships that would be the optimal strategic fit for successful entry into each of Aurora’s contemplated market segments” and advise on its global expansion.
Looking Ahead. Azer was upbeat on Aurora before the news, calling it not only her No. 1 pick in cannabis, but also her third favorite idea in all her coverage. Yet she thinks the alliance will bear even more fruit. She reiterated an Outperform rating and $14 price target on the Canadian shares.
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