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Cannabis Watch: Aurora Cannabis leads sector after stock is named Top Pick at Cowen

Cannabis shares were mixed Tuesday, with Aurora Cannabis Inc. a standout, after Cowen designated the stock its Top Pick in the sector, citing growth opportunities in the Canadian legal recreational market and burgeoning international medical market.

Aurora stock ACB, +8.84%ACB, +9.17% rose 4.4%, after Cowen assigned it an outperform rating and C$14 price target ($10.50), equal to 46% above its current trading level.

“The company’s large cultivation footprint, capable of producing over 575,000 kg, provides ACB with the necessary infrastructure to weather early storms in adult use while continuing to grow higher-value revenues in the medical market,” analysts led by Vivien Azer wrote in a note.

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