Susquehanna upgrades Uber on ‘large growth opportunities ahead’

Susquehanna analyst Shyam Patil upgraded Uber Technologies to Positive from Neutral with a price target of $48, up from $40. The company posted "another nice quarter," as it is seeing continued solid sales traction while demonstrating discipline on the cost side, the analyst tells investors in a research note. The firm believes it is clear that Uber’s positioning continues to strengthen, while simultaneously showing improving operating leverage. These factors, "along with a plethora of large growth opportunities ahead," warrants an upgrade, Susquehanna contends.