Uber price target raised to $114 from $102 at UBS

UBS raised the firm’s price target on Uber (UBER) to $114 from $102 and keeps a Buy rating on the shares as part of a Q3 earnings preview for the rideshare and food delivery space. With Sensor Tower data suggesting minute share shift and steady quarter-over-quarter usage trends, the primary driver of UBS’s sales estimate revisions is a more benign currency headwind, the analyst tells investors in a research note. The firm says that with Tesla’s robotaxi event now behind us, this clears the path for Uber investors to focus on the achievability of its mid-term guidance. UBS believes Uber will remain a key consumer-facing demand provider and continues to see a path to the high end of its mid-term EBITDA guidance, driven by Uber One expansion and platform synergies.