Uber price target raised to $67 from $60 at Citi

Citi analyst Ronald Josey raised the firm’s price target on Uber to $67 from $60 and keeps a Buy rating on the shares after meeting with management. The analyst believes Uber is “executing extremely well” and that its margins should continue to expand as investments in growth continue. The firm is “incrementally positive on shares.” Strength in earner and driver supply is leading to greater demand and frequency across newer products globally, Delivery is expanding its services, and Uber is operating more efficiently and profitably than ever before, contends Citi.