Nomura Downgrades Uber Technologies to Neutral, Raises Price Target to $62
Portfolio Pulse from Benzinga Newsdesk
Nomura analyst Anindya Das has downgraded Uber Technologies (NYSE:UBER) from Buy to Neutral but increased the price target from $59 to $62.
December 29, 2023 | 9:58 am
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NEUTRAL IMPACT
Uber Technologies was downgraded by Nomura from Buy to Neutral, although the price target was raised from $59 to $62.
The downgrade to Neutral suggests that Nomura sees limited upside potential or increased risk in Uber's stock, which could lead to a neutral short-term impact on the stock price. However, the increase in the price target from $59 to $62 indicates a positive view on the company's valuation, which might counterbalance the downgrade's negative sentiment.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100