In a report released today, Justin Post from Bank of America Securities maintained a Buy rating on Uber Technologies (UBER – Research Report), with a price target of $95.00.
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Justin Post has given his Buy rating due to a combination of factors that highlight Uber’s strategic positioning and growth potential in the autonomous vehicle (AV) sector. Despite potential competitive pressures from Tesla’s entry into the California market, Uber’s collaboration with Waymo in Austin is expected to bolster its AV capabilities and consumer appeal. This partnership is anticipated to enhance Uber’s market presence, as it will likely be the first to offer fully autonomous rides in the area.
Furthermore, the broader AV ecosystem is evolving, with technological advancements such as the reduction in LiDAR costs, which positions Uber favorably among multiple emerging competitors. Justin Post believes that Uber’s proactive approach in the AV space, coupled with its strategic alliances, will drive strong utilization and consumer response, supporting a positive outlook for the company’s stock. As a result, he maintains a Buy rating, with a price objective of $95.00, reflecting confidence in Uber’s ability to capitalize on these opportunities.
In another report released on February 18, Piper Sandler also reiterated a Buy rating on the stock with a $87.00 price target.
Based on the recent corporate insider activity of 89 insiders, corporate insider sentiment is neutral on the stock.