Uber price target lowered to $80 from $85 at RBC Capital

RBC Capital lowered the firm’s price target on Uber to $80 from $85 and keeps an Outperform rating on the shares. The company’s Q1 results were “a bit messy” relative to expectations, with bookings softness in Q1 and Q2 guide that will likely raise questions about how much, if any, upside there is to recently given 3- year targets, the analyst tells investors in a research note. A “shoot first ask questions later” Robotaxi bear thesis on Uber will likely continue to embolden shorts in the near-term, the firm added.