JP Morgan Analyst Affirms Confidence In Uber: Mobility Expansion And Efficient Delivery Drive Optimistic Outlook
Portfolio Pulse from Anusuya Lahiri
JP Morgan analyst Doug Anmuth maintained an Overweight rating on Uber Technologies, Inc (NYSE:UBER) due to strong second-quarter performance, including Gross Bookings of ~$40 billion and EBITDA of $1.57 billion. Uber's Mobility and Delivery segments showed growth, and the company is focusing on profitability and free cash flow. The stock is expected to trade up.
August 06, 2024 | 6:01 pm
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JP Morgan analyst Doug Anmuth maintained an Overweight rating on Uber Technologies, Inc (NYSE:UBER) due to strong second-quarter performance, including Gross Bookings of ~$40 billion and EBITDA of $1.57 billion. Uber's Mobility and Delivery segments showed growth, and the company is focusing on profitability and free cash flow. The stock is expected to trade up.
The analyst's positive outlook, supported by Uber's strong Q2 performance and focus on profitability, is likely to drive the stock price up in the short term. The stock has already traded higher by 11.1%, indicating market confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100