Wells Fargo analyst Ken Gawrelski raised the firm’s price target on Uber (UBER) to $120 from $100 and keeps an Overweight rating on the shares. The firm expects positive consensus revisions primarily on FX as the company leans into bookings growth. Guidance on margin reinvestment would provide clarity, it adds. Further, Wells sees maintenance of high-teens FX-neutral mobility bookings growth in the second half of the year as key to stock performance.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on UBER:
- Uber’s Strong Growth Prospects and Strategic Expansion Drive Buy Rating
- PLTR, SMCI, NFLX: The Best-Performing Stocks During the Year’s First Half
- Top Analyst Says Tesla Stock’s (TSLA) Valuation Is ‘Increasingly Dependent’ on Robotaxis
- Wedbush says 40% of Uber mobility gross bookings exposed to potential AV risk
- Uber Technologies’ Stock Soars Amid AI Acquisition Buzz