Uber earnings selloff a buying opportunity, says JPMorgan

JPMorgan analyst Doug Anmuth recommends buying shares of Uber (UBER) on the post-earnings selloff. The 9% pullback Thursday was driven by Q3 mobility gross booking growth decelerating 300 basis points to 24%, the analyst tells investors in a research note. The firm also thinks investors were expecting a faster ramp of buyback, with Uber’s current plans likely to start offsetting share dilution sometime in 2025. However, JPMorgan thinks the company’s underlying fundamentals remained strong. The Uber bull case remains intact, it contends. The firm keeps an Overweight rating on the shares with a $95 price target