Why Are Uber Shares Higher Today?
Portfolio Pulse from Vaishali Prayag
Uber Technologies Inc. (NYSE:UBER) shares are trading higher after Wolfe Research initiated coverage with an Outperform rating and a price target of $90. Analyst Shweta Khajuria highlighted Uber's strong position in ridesharing and food delivery, potential for product innovation, and expansion into new verticals. The analyst expects significant topline growth and margin expansion over the next three years.
July 16, 2024 | 7:09 pm
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Uber shares are up 4.05% after Wolfe Research initiated coverage with an Outperform rating and a $90 price target. The analyst sees strong growth potential in ridesharing, food delivery, and new verticals, expecting significant topline growth and margin expansion.
The positive analyst rating and high price target from Wolfe Research are likely to boost investor confidence in Uber. The analyst's expectations of strong growth in ridesharing, food delivery, and new verticals, along with margin expansion, provide a strong bullish case for the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100