Jefferies recommends buying Uber amid AV concerns

Jefferies analyst John Colantuoni notes escalating autonomous vehicle concerns drove Uber (UBER) shares down about 17% since late September and pushed the multiple back to last year’s low, when the firm points out that similar concerns paved the way for a roughly 70% rally through the first nine months of 2025. The analyst, whose work shows AVs will have “nearly zero impact on growth thru 2027” as expansion relies increasingly on markets outside San Francisco and expects durable Mobility growth and further progress on Uber’s other AV partnerships, recommends buying shares and maintains a Buy rating and $120 price target on Uber.