Piper Sandler says Uber Technologies shares are indicated higher following a series of bullish headlines. First, the City of New York announced a "better-than-feared" increase in minimum wages for delivery drivers, then Bloomberg reported that Uber may consider divesting its Freight segment, the analyst tells investors in a research note. Both of these developments may boost the company’s chances for inclusion in the S&P 500 Index, which would likely be a bullish catalyst for the shares, contends Piper. It reiterates an Overweight rating on the name with a $41 price target. The firm thinks divesting Uber Freight would be a good idea.
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