Evercore ISI Maintains a Hold Rating on Aurora Innovation (AUR), Sets an $8 PT

Aurora Innovation, Inc. (NASDAQ:AUR) is one of the most promising future stocks according to Wall Street analysts. On August 3, Evercore ISI analyst Chris McNally maintained a Hold rating on Aurora Innovation, Inc. (NASDAQ:AUR) and set a price target of $8.00.

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A closeup of a self-driving hardware unit inside the dashboard of a passenger vehicle.

The rating update came after Aurora Innovation, Inc. (NASDAQ:AUR) announced a notable expansion of its commercial operations on July 30, exceeding driverless miles at the end of June, beginning driverless commercial operations at night, recently expanding its driverless fleet to three trucks, and opening its Phoenix terminal.

Aurora Innovation, Inc. (NASDAQ:AUR) announced that it expanded its driverless operations on the Dallas-to-Houston lane, including nighttime driving in its operations.

The initiative marks more than a doubling in the company’s truck utilization potential, considerably reducing delivery times for long-haul routes and paving the way for profitability for autonomous trucking.

Aurora Innovation, Inc. (NASDAQ:AUR) designs and develops automobile software and hardware, and provides data services. The company also offers the Aurora Driver, an innovative self-driving freight technology that allows a vehicle to drive itself.

While we acknowledge the potential of AUR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AUR and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.