TD Cowen analyst John Blackledge maintained a Buy rating on Uber Technologies (UBER – Research Report) today and set a price target of $88.00.
John Blackledge has given his Buy rating due to a combination of factors that highlight Uber’s strong growth potential and strategic positioning. Despite some macroeconomic challenges and a slight reduction in estimates due to softening consumer sentiment, Blackledge remains optimistic about Uber’s future performance. He anticipates robust growth in Uber’s Mobility and Delivery segments, driven by geographic expansion and new product offerings such as Uber for Business and Shuttle.
Additionally, Blackledge expects significant EBITDA growth, supported by cost efficiencies and increased advertising revenue. The recent partnerships with Waymo in Austin and new ventures in Dubai further bolster Uber’s strategic initiatives in autonomous vehicle technology, which could enhance its competitive edge. Overall, these factors contribute to a positive outlook for Uber, justifying the Buy rating with a price target of $88.
In another report released on April 3, Evercore ISI also reiterated a Buy rating on the stock with a $115.00 price target.