Uber price target raised to $63 from $60 at Needham

Needham raised the firm’s price target on Uber to $63 from $60 and keeps a Buy rating on the shares. The analyst cites the company’s Q3 results showing bookings acceleration and a tone of runway for continued growth in the coming years, especially in Mobility. Uber’s Q4 guidance implies deceleration however, and the firm expects the trajectory of bookings growth to continue to be a “key debate on the stock”, Needham tells investors in a research note.