Uber price target raised to $84 from $83 at Loop Capital

Loop Capital raised the firm’s price target on Uber to $84 from $83 and keeps a Buy rating on the shares. While investor concern over consumer spending pressure was largely answered with strong Q2 results from Uber and its peers, pressure on consumer spending will continue to be a focus for the stock, the analyst tells investors in a research note. FX headwinds moderate a solid upward revision in the firm’s gross bookings outlook on a constant-currency basis however, and the firm continues to view Uber as a core holding for long-term growth investors, Loop Capital added.