Uber price target raised to $150 from $115 at Evercore ISI

Evercore ISI raised the firm’s price target on Uber (UBER) to $150 from $115 and keeps an Outperform rating on the shares following what the firm calls “Modest Beat & Bracket Q2 EPS results.” While stating that the Delivery segment “over-delivered vs. expectations” and the Mobility segment “slightly under-performed,” the firm says it believes Q2 results “largely affirmed” the long thesis and notes that its new target is partly due to a roll forward of its valuation framework.