Uber initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald analyst Deepak Mathivanan initiated coverage of Uber with an Overweight rating and $90 price target. The firm’s bullish thesis is predicated on Uber’s “solid growth” above a mid-teens compound annual growth rate and margin expansion and strong competitive moats in rideshare and delivery that it sees enabling new long-term opportunities. While not in the “autonomous is not a problem” camp, the analyst says the firm finds “comfort in the extremely slow pace that transportation technologies move.”