Uber price target raised to $55 from $50 at Mizuho

Mizuho analyst James Lee raised the firm’s price target on Uber Technologies to $55 from $50 and keeps a Buy rating on the shares. The company’s Q1 EBITDA came in ahead of expectations from increased efficiency and improved unit economics, the analyst tells investors in a research note. Uber leveraged its scale to lower driver incentives and optimize customer acquisition costs to drive margin expansion., says the firm. It says Uber has a strong track record on incremental margin delivery and continued favorable unit economics.