Mackie repeated a 'buy' on Aurora Cannabis Inc (TSE:ACB), saying it viewed the firm's fourth quarter results positively.
It also repeated a C$3.80 target price, compared to a current price of C$2.77.
In the fourth quarter, Aurora sold 755,059 grams of dried cannabis and cannabis oils which was 6% higher than the broker's 715,044 estimate.
"Additionally, the company is starting to see production efficiencies and its cash cost to produce a gram of dried cannabis declined too," it noted.
"Revenue was $5.9m versus our $6.5m forecast and net loss of $0.01/share compared to our forecast of $0.00/share. Despite the slight miss in revenue and earnings we view these results positively," said analyst Greg McLeish.
The company is continuing to pursue international opportunities and it is well positioned for growth: Management believes that international expansion is fundamental to its long-term growth and it has made strategic investments in Australia and Germany, he added.