RBC Capital keeps an Outperform rating and $94 price target on Uber (UBER), noting that the latest driver supply analysis indicates ongoing rationality in the ride-hailing space – a positive for Uber and Lyft. RBC is also positive on the company’s positioning in autonomous vehicle ecosystem longer term, even though there is “very little risk” embedded around Tesla’s (TSLA) upcoming cybercab launch in Austin, the analyst tells investors in a research note. RBC adds however that it would become a “more aggressive buyer” in the event of a Tesla-related dislocation in Uber shares.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on UBER:
- Uber names Palo Alto Networks chairman and CEO Nikesh Arora to board
- DASH, UBER: Food Delivery Giants Settle Lawsuit Over Fee Caps
- Uber announces U.S. launch of senior accounts
- Uber’s Strategic Expansion and Technological Advancements Justify Buy Rating with $100 Price Target
- Uber names Andrew ‘Mac’ Macdonald as new COO