BofA lowered the firm’s price target on Uber (UBER) to $110 from $119 and keeps a Buy rating on the shares ahead of the company’s Q4 report due on February 4. Given industry data in Q4, the firm expects upside to bookings and revenue estimates, but notes that its EBITDA estimate at $2.47B is below the Street view at $2.48B as Uber has been investing upside in growth. However, it believes a modest beat is possible, the analyst added in the firm’s preview.
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