Uber price target raised to $60 from $55 at Bernstein

Bernstein raised the firm’s price target on Uber to $60 from $55 and keeps an Outperform rating on the shares following quarterly results. The firm suspects some investors will nitpick the moderation in Mobility incremental margins, but says “don’t miss the forest for the trees.” Bernstein has a business that is growing at a very healthy clip and reinforcing that long-term algorithm with current investments, improving the quality of its earnings power, and exhibiting discipline on capital allocation as it starts to generate substantial free cash flow.