Uber price target raised to $94 from $82 at RBC Capital

RBC Capital analyst Brad Erickson raised the firm’s price target on Uber (UBER) to $94 from $82 and keeps an Outperform rating on the shares. The company had a strong Q1 print against a higher bar coming in, with durable customer and frequency growth continuing and Uber finding numerous pockets of white space for driving incremental demand and higher frequency, the analyst tells investors in a research note. Pricing was steady with insurance inflation abating, incremental flow-through was stronger and should remain so, and autonomous vehicle commentary remains bullish with expanding partnerships and acceleration coming in its early markets, the firm adds.