Uber price target raised to $102 from $92 at Citi

Citi raised the firm’s price target on Uber (UBER) to $102 from $92 and keeps a Buy rating on the shares following the Q1 report. Uber’s core Delivery and Mobility services “continue to deliver impressive results,” the analyst tells investors in a research note. The firm sees multiple Mobility initiatives that should deliver continued bookings growth, and points to Suburbs expansion, Reserve, and Taxi. Uber is well positioned to provide distribution and utilization benefits across multiple autonomous vehicle networks going forward, contends the firm.