Jefferies Raises Targets On Uber, Lyft Shares Ahead Of Q3 Earnings
Portfolio Pulse from Dylan Berman
Jefferies analyst John Colantuoni has raised price targets for Uber and Lyft ahead of their Q3 earnings. Uber's target increased from $100 to $105, with expectations of strong EBITDA and ride bookings. Lyft's target rose from $10.50 to $13, with focus on market share and mobility trends.
October 22, 2024 | 7:26 pm
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POSITIVE IMPACT
Jefferies raised Uber's price target to $105, maintaining a Buy rating. The analyst expects strong Q3 earnings, with high EBITDA and ride bookings, and is interested in autonomous vehicle partnerships.
The increase in price target and positive expectations for Uber's Q3 earnings suggest a likely positive impact on the stock price. The focus on high-income customers and strong EBITDA forecasts support this outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Jefferies raised Lyft's price target to $13, maintaining a Hold rating. The analyst is cautious about Lyft's ability to maintain market share and achieve its three-year targets.
While the price target was raised, the Hold rating and concerns about market share and long-term targets suggest a neutral short-term impact on Lyft's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 85