Deutsche Bank raises Uber price target to $42 following ‘exceptionally clean’ Q4

Deutsche Bank analyst Benjamin Black raised the firm’s price target on Uber to $42 from $40 and keeps a Buy rating on the shares. The firm notes Uber delivered an "exceptionally clean" Q4 with the outlook for Q1 2023 proving "equally impressive." Further, Q4 EBITDA of $665M was higher than buyside bogeys and much higher than Street estimates, driven by ongoing rideshare momentum supported by strong and improving underlying unit economics in the Delivery segment, Deutsche adds.