Goldman Sachs analyst Eric Sheridan raised the firm’s price target on Uber to $78 from $59 and keeps a Buy rating on the shares. The analyst raised the price target as part of the firm’s ridesharing and delivering Q4 earnings preview. Investors remain focused on any signs of consumer demand volatility in terms of forward operating results, the analyst tells investors in a research note. The firm says another emerging theme is the dynamic of balancing forward growth initiatives while also driving incremental margin narratives across the sector. Based on its industry work, Goldman sees the relative competitive positioning and topline trends for both Uber and Lyft to be stable.
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