Uber price target raised to $91 from $79 at Roth MKM

Roth MKM raised the firm’s price target on Uber to $91 from $79 and keeps a Buy rating on the shares. The analyst cites the company’s “surprisingly large” $7B buyback authorization and above-consensus 3-year outlook for Gross Bookings, EBITDA, and free cash flows. Uber management has laid out a compelling investment case for the stock to become a “must own” Internet/Tech asset among growth investors as its marketplace network effects have hit scale benefits, the firm added.