Uber price target raised to $55 from $50 at Piper Sandler

Piper Sandler raised the firm’s price target on Uber to $55 from $50 and keeps an Overweight rating on the shares after “solid” gross bookings growth in Q3 and better than expected Q4 EBITDA guidance. The company’s 2024 gross bookings target of $165B-$175B is “looking more realistic,” says the firm, which adds that Uber remains its number one pick in the gig-economy space.