Roth Capital analyst Rohit Kulkarni raised the firm’s price target on Uber (UBER) to $110 from $93 and keeps a Buy rating on the shares ahead of the Q2 report on August 6. The firm sees potential upside to Uber’s Q2 bookings estimates but says buy-side expectations for Q3 guidance “may cap” the stock’s near-term opportunity. Roth remains a long-term holder of the stock and would be incremental buyers on weakness. The recent developments in robotaxis have benefited Uber’s valuation multiple, the analyst tells investors in a research note.
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