Canaccord Genuity analyst George Gianarikas has maintained their bullish stance on AUR stock, giving a Buy rating on May 9.
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George Gianarikas has given his Buy rating due to a combination of factors that highlight Aurora Innovation’s potential in the autonomous trucking industry. Despite Uber’s recent sale of a portion of its stake in Aurora, Gianarikas views this as a strategic move rather than a sign of weakening confidence in Aurora’s capabilities. Uber’s continued support and belief in Aurora’s technology and leadership, as evidenced by their CEO’s positive remarks, reinforce the company’s strong position in the market.
Furthermore, Aurora’s ability to scale its operations effectively with minimal additional costs is a promising indicator of future growth. The company is expected to expand its commercial operations, which could lead to increased revenue and partnerships with major players in the industry, such as Daimler and potentially Amazon. These developments, along with Aurora’s leadership in autonomous trucking, underpin Gianarikas’s optimistic outlook and Buy rating for the stock.
According to TipRanks, Gianarikas is an analyst with an average return of -4.4% and a 39.69% success rate. Gianarikas covers the Industrials sector, focusing on stocks such as Surf Air Mobility, Inc., Arq Inc, and Ameresco.
In another report released on May 9, Needham also reiterated a Buy rating on the stock with a $13.00 price target.