Guggenheim starts Uber at Buy on ‘industry-leading’ network and technology

Guggenheim analyst Taylor Manley initiated coverage of Uber (UBER) with a Buy rating and $140 price target The firm is positive on the company’s “industry-leading” network, technology, and brand equity, the analyst tells investors in a research note. The autonomous vehicle – AV – adoption debate will remain a key driver of sentiment, with bulls highlighting market expansion potential and bears arguing for disintermediation risk, though the firm notes that both will prove true, Guggenheim added. Uber’s re-accelerating Delivery business is also relatively overlooked by investors and poised for sustainable double-digit growth, the firm added.