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Aurora Cannabis (ACB)

Our second ‘Strong Buy’ cannabis stock under $10 is Aurora Cannabis Inc (NYSE:ACB).

One of the world’s largest and fastest growing cannabis stocks, Aurora boasts a funded production capacity of over 500,000 kilograms per year.

And with the increasing adoption of medical and consumer cannabis globally, Aurora has embarked on an aggressive international expansion strategy. This currently sees the company with sales and operations in 24 countries around the world.

So far this approach is winning the Street’s approval. In the last three months, six analysts have rated ACB vs just 1 hold rating.

One analyst in the bull corner is Merrill Lynch’s Christopher Carey. He has an $11 price target on the stock, indicating upside potential of 44% for this cheap stock.

Carey isn’t deterred by Aurora’s third-quarter earnings results. Although the numbers didn’t quote meet expectations, the analyst believes that a bit of volatility is par for the course at this early stage of the game.

And most crucially, Aurora is still progressing towards its long-term goals. The company reiterated its Q4 guidance for for 25,000 kg of cannabis ready for sale, positive EBITDA and improving margins going into fiscal 2020.

However- Carey did have a word of advice for ACB. While the analyst approves of the company’s expansion into vapes and edibles, he lamented that ACB has so far steered clear of the potentially lucrative cannabis drinks market.

“We wonder if Aurora could be ‘missing the boat’ on an area which could prove large as newer consumers wanting less pervasive, socially accepted product forms demand both psychoactive (THC-infused) and CBD beverages,” Carey mused in his investor report.