In a report released yesterday, George Gianarikas from Canaccord Genuity maintained a Buy rating on Aurora Innovation (AUR – Research Report), with a price target of $15.00.
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George Gianarikas has given his Buy rating due to a combination of factors related to Aurora Innovation’s current market position and future potential. Despite the departure of Sterling Anderson, a respected co-founder, to General Motors, Gianarikas views this transition as neutral to positive for Aurora. This is because GM is not a direct competitor in the autonomous trucking space, and the move could potentially open doors for future collaborations in passenger mobility.
Furthermore, Aurora is transitioning from a concept phase to a scale phase, which significantly reduces risks associated with its operations. The company’s strategic focus on integrating autonomous technologies into its offerings aligns with industry trends, positioning it well for future growth. These factors contribute to the positive outlook and justify the Buy rating for Aurora Innovation’s stock.
According to TipRanks, Gianarikas is an analyst with an average return of -5.2% and a 38.28% success rate. Gianarikas covers the Industrials sector, focusing on stocks such as Arq Inc, Ameresco, and Generac Holdings.
In another report released on May 9, Oppenheimer also reiterated a Buy rating on the stock with a $15.00 price target.