Uber elevated to ‘Best-of-Breed Bison’ at DA Davidson

DA Davidson raised the firm’s price target on Uber to $80 from $64 and keeps a Buy rating on the shares. The firm has also named the stock to its Best-of-Breed Bison initiative, seeking out companies offering an enduring competitive moat, a sizable addressable market with favorable long-term trends, and a compelling risk/reward. The analyst contents that Uber will have “little to stop” the company from delivering improving GAAP financials, free cash flow generation, and free cash flow margins from here on out, driven by the leverage effect of the company’s consistent topline growth, recent consolidation in its competitive set, and the durability of the management’s significant pandemic-era cost cuts.