Uber price target raised to $43 from $41 at Piper Sandler

Piper Sandler analyst Alexander Potter raised the firm’s price target on Uber to $43 from $41 and keeps an Overweight rating on the shares after its Q1 earnings beat. The company’s Q1 results demonstrated why the stock should be considered the top choice for investors seeking exposure to gig-based transportation stocks, as budding macro headwinds have yet to dent the company’s bookings, the analyst tells investors in a research note. If the macro environment does deteriorate, rise sharing will prove a natural hedge, with cash-strapped consumers opting to hail rides instead of buying persistently expensive new cars, the firm added.