AUR - Why Aurora Innovation Stock Is Skyrocketing This Week
2023-06-09 07:11:41 ET
Shares of Aurora Innovation (NASDAQ: AUR) are soaring this week. The self-driving vehicle technology expert saw stock prices rise 43.1% between the closing bells last Friday and this Thursday, according to data from S&P Global Market Intelligence . The jump was powered by a single analyst report of the ultra-bullish variety.
That report came from Canaccord Genuity analyst George Gianarikas, who started coverage of this stock with a buy rating and a one-year target price of $5 per share. That's more than three times Aurora's stock price on Tuesday, before this market-moving document was posted on Wednesday morning.
In particular, the analyst likes the young company's experienced management team and robust growth prospects in the barely born American market for self-diving cargo trucks. Self-driving passenger car services also added value to the analysis, but that crowded space was given a far lighter weight than the trucking opportunity.
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Why Aurora Innovation Stock Is Skyrocketing This Week