Canaccord analyst Matt Bottomley upgraded Aurora Cannabis to Buy from Hold with an unchanged price target of C$0.80. The analyst cites valuation for the upgrade following the “largely as expected” fiscal Q3 report with the shares down almost 25% since the Q2 report. The company also announced the acquisition of its Australian partner MedReleaf, which management expects will be immediately accretive to adjusted EBITDA and deepen the company’s moat within international cannabis markets, the analyst tells investors in a research note.
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