In a report released today, Justin Post from Bank of America Securities maintained a Buy rating on Uber Technologies, with a price target of $103.00.
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Justin Post has given his Buy rating due to a combination of factors, including Uber management’s confident stance on autonomous vehicle adoption and the company’s positioning to lead AV trip volume by 2029. Despite a modest 1Q EBITDA outlook shortfall versus consensus, he views the underlying bookings momentum and progress in newer initiatives such as grocery, subscriptions, and international expansion as supportive of long‑term growth.
Post also highlights that potential AV competition in major U.S. cities touches only a quarter of Uber’s profits and is likely to remain a premium, capacity‑constrained offering, limiting near‑term disruption to Uber’s broader network. He further underscores Uber’s multi‑partner AV strategy, balance sheet flexibility to stimulate AV supply, and the emerging ecosystem of OEMs and fleet managers as underappreciated drivers that can enhance Uber’s market position and justify upside from the current share price.
Post covers the Communication Services sector, focusing on stocks such as Alphabet Class A, Meta Platforms, and Alphabet Class C. According to TipRanks, Post has an average return of 22.7% and a 64.46% success rate on recommended stocks.
In another report released on February 5, Citi also reiterated a Buy rating on the stock with a $110.00 price target.