Uber downgraded to Neutral from Buy at Nomura

Nomura downgraded Uber Technologies to Neutral from Buy with a price target of $62, up from $59. With the stock up 155% year-to-date, investors have rewarded the company for profitably scaling its business model and consolidating its market position in the ridesharing market in U.S. and Canada, the analyst tells investors in a research note. At this time, the firm thinks most of the catalysts for the stock are already priced in. As such, Uber is fairly valued at the current price, contends Nomura.