Uber price target lowered to $115 from $120 at Evercore ISI

Evercore ISI lowered the firm’s price target on Uber (UBER) to $115 from $120 and keeps an Outperform rating on the shares. The firm is “modestly” lowering estimates, noting that its FY25 EBITDA view is down 2%, in the wake of what the analyst describes as “In-Lineish Q4 EPS results.” The key negative from the report, which is causing the shares to decline 7% intra-day, was the decline in incremental margins, but the firm views this as “mostly in-line with the company’s 3-year framework,” the analyst tells investors.