Uber price target raised to $108 from $104 at TD Cowen

TD Cowen raised the firm’s price target on Uber (UBER) to $108 from $104 and keeps a Buy rating on the shares. The firm notes Q2 GB’s were about 1% above consensus estimates, driven by better-than-expected Delivery growth and continued robust trip growth. Q3 GB guide was +3% vs consensus estimates at midpoint, with EBITDA guide less than 1% above its/consensus estimates as management expects accelerating U.S. trip growth, TD Cowen adds.