Uber price target raised to $43 from $36 at Argus

Argus analyst Bill Selesky raised the firm’s price target on Uber to $43 from $36 and keeps a Buy rating on the shares. The company’s ridesharing and food delivery businesses are both set to perform strongly going forward, the firm tells investors in a research note, also noting that it is looking for Uber to return to pre-pandemic ridership levels in 2023. Argus is also positive on Uber’s recent acquisitions of Drizly, an on-demand alcohol marketplace that will further expand the Delivery business, and Transplace, which is a logistics technology platform with one of the world’s largest managed transportation and logistics networks.