Uber price target raised to $92 from $80 at JPMorgan

JPMorgan analyst Doug Anmuth raised the firm’s price target on Uber (UBER) to $92 from $80 and keeps an Overweight rating on the shares. After six consecutive quarters of 20%-plus growth, Uber gross bookings decelerated to 18% Q1, the analyst tells investors in a research note. However, the firm says slower booking growth was primarily due to lower pricing as insurance increases in Mobility eased, which should drive volume growth in the long-term. JPMorgan believes the Uber bull case remains intact.