Uber price target raised to $79 from $70 at KeyBanc

KeyBanc raised the firm’s price target on Uber to $79 from $70 and keeps an Overweight rating on the shares. The firm is incrementally positive on Uber into Q4 earnings and medium-term and capital allocation updates. KeyBanc expects earnings and its virtual investor update to focus on mid-teens annual gross bookings volume growth, modest margin improvements, and a capital allocation program geared toward buybacks.