Bank of America Securities analyst Justin Post has reiterated their bullish stance on UBER stock, giving a Buy rating today.
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Justin Post has given his Buy rating due to a combination of factors that highlight Uber Technologies’ strong performance and potential for future growth. Despite facing some headwinds in the Mobility segment, such as a shift towards international rides and a slowdown in US airport trips, Uber’s overall business trends remain healthy. The company’s stable trip growth and expanding EBITDA margins indicate robust underlying business fundamentals.
Moreover, Uber’s management has provided a positive outlook, suggesting stable pricing and steady volume growth, which are favorable for long-term demand. Additionally, the company’s advancements in autonomous vehicles (AVs) and strong partnerships, like the one with Waymo, position Uber well in the competitive AV landscape. These factors, combined with a slight increase in the price objective to $97, reinforce the Buy rating as Uber continues to be a top pick in the Travel/Online Services sector.
Post covers the Communication Services sector, focusing on stocks such as Alphabet Class A, Meta Platforms, and Alphabet Class C. According to TipRanks, Post has an average return of 21.9% and a 65.45% success rate on recommended stocks.
In another report released today, DBS also maintained a Buy rating on the stock with a $95.00 price target.