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Aurora Cannabis leads the sector after the shares are named Top Pick at Cowen



Cannabis shares were blended on Tuesday, with Aurora Cannabis Inc. a standout, after Cowen designated his shares Top Pick in the sector, citing growth opportunities in the Canadian legal recreational market and the growing international medical market.

Aurora stock

ACB,

+ 6.65%

ACB, + 6.98%

rose 4.4%, after Cowen had awarded a higher price and C $ 1

4 price target ($ 10.50), equivalent to 46% above its current trading level.

"The company's great cultivation footprint, which can produce over 575,000 kg, gives ACB the necessary infrastructure to weather early storms in adult use, while continuing to grow high-value earnings in the medical market," analysts led by Vivien Azer said in a note.

Cowen expects the Canadian recreational and medical market to represent a total addressable market of around $ 12 billion by 2025. It expects the international medical market to rise to $ 31 billion by 2024, up from a previous estimate of just 9 billion dollars.

See also: Canada's black cannabis market remains strong in the fourth quarter

Aurora's presence in 23 international markets should increase its ability to capture global market share, the note said. Cowen expects Aurora to generate revenue of $ 305 million in fiscal 2019, increasing to $ 742 million in fiscal 2020 and $ 1.34 billion in fiscal 2022.

Cronos Group Inc.


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