UBS raised the firm’s price target on Uber (UBER) to $124 from $117 and keeps a Buy rating on the shares. Food delivery demand remains resilient post-COVID, with convenience driving stronger-than-expected stickiness and medium-term growth, the analyst tells investors in a research note. Competitive intensity may rise as Deliveroo (DROOF) gains backing and Amazon (AMZN) expands same-day grocery delivery, while slower robotaxi adoption gives Uber and Lyft (LYFT) more room to grow profits near-term, UBS says.
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