Uber price target raised to $65 from $55 at Oppenheimer

Oppenheimer analyst Jason Helfstein raised the firm’s price target on Uber to $65 from $55 on higher peer valuations and increased confidence in the company’s consumer tailwinds, while keeping an Outperform rating on the shares. Despite +70% year-to-date, Uber remains a top large cap pick in the firm’s coverage. Oppenheimer believes Uber will continue to benefit from a spending shift from goods to services normalizing, exposure to the strongest consumer categories, and return-to-work tailwinds. Shares also stand to benefit from inclusion into the S&P 500, which could happen as early as December.