Uber price target raised to $105 from $100 at Piper Sandler

Piper Sandler analyst Thomas Champion raised the firm’s price target on Uber (UBER) to $105 from $100 and keeps an Overweight rating on the shares. The firm notes Uber reported strong Q1 results highlighted by 20% constant currency Mobility bookings growth, and it guided Q2 bookings and EBITDA above consensus. Strong rideshare momentum and aggressive share buybacks were two takeaways from Piper’s bus tour, the firm adds.