Aurora Cannabis stock (ACB) has already jumped more than 81% since the start of the year, but recent management meetings keep Cowen & Co.’s Vivien Azer confident that it can keep going higher.

The Back Story. Cannabis stocks are a volatile bunch, as is Alberta-based Aurora, but the good news has outweighed the bad in 2019. The company’s acquisition of Whistler Medical Marijuana drew cheers in January, as did its earnings in February. Aurora is riding a wave of enthusiasm on Wall Street, as investors and other consumer staples...