Uber Technologies Inc. (UBER) has agreed to acquire Blacklane, a German-based global chauffeur service. Following the move, Bank of America (BAC) Securities doubled down on its Buy rating and set a new price target for the stock.
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The new acquisition is set to boost Uber’s premium offerings, including Uber Elite and pre-booked Reserve services. It targets growth in executive and luxury travel, which, according to Uber’s CEO, Dara Khosrowshahi, is a key opportunity.
BofA Reiterates UBER Buy Rating
BofA Securities analyst Justin Post said Uber’s purchase of Blacklane makes sense, pointing out that business travelers and wealthy customers care more about dependable services than low prices. Blacklane brings in about $286 million a year, roughly 1% of what Uber is expected to earn from rides in 2025. The deal is likely to boost profits and give Uber more ways to make money.
Uber shares currently trade above $70, down over 4% over the past week and 27% over the past six months. Despite its current weakness, analysts at Wells Fargo (WFC) and Morgan Stanley (MS) also rate it a Buy. BofA’s $103 price target also highlights confidence in the stock’s outlook, representing a 45% increase from present market levels.
Uber Expands Premium Mobility Offerings
Uber has found that high-end travel is one of the fastest-growing areas of its ride business. Pre-booked premium trips are already among its best sellers, and buying Blacklane helps the company move faster into the chauffeured-car market through its Uber Elite services.
The move fits well with Uber’s plan to serve all kinds of riders, including daily commuters who need luxury transport. The recent buyout also combines Blacklane’s established presence in more than 500 cities across over 60 countries with Uber’s massive global reach.
Is Uber a Buy or Hold?
Wall Street analysts maintain a consensus “Strong Buy” rating on Uber Technologies Inc. (UBER) as of March 31, 2026. Among 32 analysts tracked by TipRanks, 29 assign Buy ratings, 2 Hold, and 1 Sell. They have also projected an average 12-month price target of $105, implying a potential upside of 47%. For more information on UBER’s performance data, price targets, and analysts’ sentiment, visit TipRanks’ Stocks Comparison Center.
