Gordon Haskett reiterated a Buy rating and $108 price target on Uber (UBER) after the company’s “solid” Q2 print. The firm noted, however, that the shares are under a little pressure after the report given a Q3 EBITDA outlook that straddled consensus despite healthy Q3 gross booking guidance upside. The analyst said the firm is a buyer of Uber on Wednesday’s weakness, noting that it is encouraged to see management announce an incremental $20B share buyback that it believes underscores management’s and the board’s commitment to returning shareholder capital all while investing in near- and longer-term growth initiatives.
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