Uber price target raised to $113 from $101 at BMO Capital

BMO Capital raised the firm’s price target on Uber (UBER) to $113 from $101 and keeps an Outperform rating on the shares after its Q2 earnings beat. The company’s “robust” Delivery growth accelerated 200bps to 20% ex-FX growth, the fastest rate since, the analyst tells investors in a research note. The $20B share repurchase authorization is also “encouraging”, with a $23B remaining buyback representing 12.5% of Uber market cap, the firm added.