Uber partnership with Waymo ‘clear positive,’ says Wells Fargo

Wells Fargo keeps an Overweight rating on Uber Technologies with a $97 price target after the company and Waymo announced an autonomous vehicle partnership expansion to Atlanta and Austin launching in early 2025. The firm sees the market expansion as a “clear positive” for Uber. Even more significantly, vehicles will be available exclusively on the Uber App, not on Waymo One, the analyst tells investors in a research note. Wells believes Uber’s relationship with Waymo is “clearly progressing, with favorable deal terms.”