Needham Maintains a Buy Rating on ​Aurora Innovation (AUR), Sets a $13 PT

Aurora Innovation, Inc. (NASDAQ:AUR) is one of the best stocks under $5 with highest upside potential. Needham analyst Chris Pierce maintained a Buy rating on ​Aurora Innovation, Inc. (NASDAQ:AUR) on October 29, setting a price target of $13.

The analyst based the positive rating on the company’s promising future, stating that ​Aurora Innovation, Inc. (NASDAQ:AUR) delineated a clear pathway for the attainment of its 2026 and 2027 goals. The company has a special focus on autonomous operations, and has bolstered its position by providing an updated timeline for driver-out autonomous operations.

While some concerns exist regarding reliance on third-party OEM trucks, the analyst believes that the company is working towards meeting the demand of the logistics industry and accumulating real-world miles. It is also making notable progress by meeting milestones according to planned timelines, including advancing lane expansion to El Paso.

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 as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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