Needham analyst Bernie McTernan keeps a Buy rating and $60 price target on Uber (UBER) while noting that according to the firm’s Mobility Tracker, September trends for both Uber and Lyft (LYFT) “appear strong”. Pricing is trending higher against seasonally strong demand trends, with Uber’s average prices reaching the highest within the firm’s observed data over the past two years, the analyst tells investors in a research note. Uber also still has a wait time advantage, though it is also surprising that Lyft is not able to take more meaningful share given the relative change in pricing from the beginning of the year, suggesting structural reasons against the latter, the firm added.
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