Tesla Threat Reduced For Uber And Lyft , Stocks Also Benefit from Higher Prices and Shorter Wait Times: Analyst
Portfolio Pulse from Anusuya Lahiri
Needham analyst Bernie McTernan reiterated a Buy rating for Uber Technologies Inc (NYSE:UBER) with a $90 price target, citing strong second-quarter pricing trends and increased bookings estimates. Lyft Inc (NASDAQ:LYFT) was reiterated with a Hold rating, with improved pricing and bookings estimates. Competition fears from Tesla Inc (NASDAQ:TSLA) are slightly lowered due to the pushout of the robotaxi event.
July 15, 2024 | 6:04 pm
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NEUTRAL IMPACT
Needham analyst Bernie McTernan reiterated a Hold rating for Lyft, noting improved pricing and bookings estimates, but maintaining a cautious outlook.
While the analyst notes improved pricing and bookings estimates, the Hold rating indicates a more cautious outlook, suggesting a neutral short-term impact on Lyft's stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Competition fears from Tesla are slightly lowered due to the pushout of the robotaxi event, according to Needham analyst Bernie McTernan.
The pushout of Tesla's robotaxi event slightly lowers competition fears, but this is a minor factor and does not significantly impact Tesla's stock in the short term.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Needham analyst Bernie McTernan reiterated a Buy rating for Uber with a $90 price target, citing strong second-quarter pricing trends and increased bookings estimates.
The analyst's reiteration of a Buy rating and increased price target, along with strong pricing trends and bookings estimates, are positive indicators for Uber's stock in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100