Uber price target raised to $72 from $62 at Roth MKM

Roth MKM analyst Rohit Kulkarni raised the firm’s price target on Uber (UBER) to $72 from $62 and keeps a Buy rating on the shares. The firm contends that the company’s incremental margins may remain high despite consensus expectations of a deterioration, the analyst tells investors in a research note, stating that in 2023, Uber’s incremental EBITDA margins were at 11%. Any evidence of Uber closing the growth rate gap relative to DoorDash (DASH) could also serve as catalyst for the stock, the firm added.