Aurora Innovation downgraded to Sell from Neutral at Goldman Sachs

Goldman Sachs downgraded Aurora Innovation to Sell from Neutral with a price target of $2, up from $1.75. The shares are up 54% over the last month, says the analyst, who believes Aurora’s autonomous vehicle trucking ramp cadence could be more measured over the intermediate term than previously expected. The firm expects investor questions to remain around the rate of the ramp and intermediate to longer-term profit implications until the company can scale more meaningfully and show improved unit economics, which it thinks will take at least through 2024.