Piper Sandler lowered the firm’s price target on Uber (UBER) to $82 from $98 and keeps an Overweight rating on the shares. The firm is lowering Mobility gross bookings estimates starting in FY26 to reflect potential Autonomous/Robotaxi share loss. With this narrative pervasive, investors are highly sensitive to any weakness in Mobility results. Uber recently announced an ASR which seems pragmatic. Piper remains constructive on this category leader, but pares back its long-term estimates to more appropriately reflect risk.
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