Uber price target raised to $91 from $89 at Wells Fargo

Wells Fargo raised the firm’s price target on Uber to $91 from $89 and keeps an Overweight rating on the shares. Wells sees a “bookings beat and raise” for Uber’s upcoming Q2 results, but also sees potential risks for the company, including an unfavorable AB5 outcome in California, as well as escalating competitive intensity with Lyft in the United States and with DoorDash globally.