Cowen Downgrades 3 Canadian Cannabis Stocks
One of the most enthusiastic analyst teams covering the cannabis sector just dialed back some of its assumptions about the state of retail cannabis sales in Canada. On Feb. 24, Vivien Azer, the top marijuana stock analyst at Cowen, lowered the investment bank's ratings for majors Aurora Cannabis (NYSE: ACB) and Tilray (NASDAQ: TLRY), and the much-smaller Sundial Growers, from outperform to market perform.
Despite disappointing sales during the first few months that adult-use recreational marijuana was fully legal in Canada, in January 2019, Azer told investors Canadian sales would probably reach CA$3.1 billion that year.
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Source Fool.com
