Uber price target raised to $92 from $78 at Piper Sandler

Piper Sandler raised the firm’s price target on Uber to $92 from $78 and keeps an Overweight rating on the shares after a change in analyst coverage. The analyst sees Uber as having the greatest “right to win” within the gig economy, saying its free cash flow has inflected positive and management is now placing a greater focus on capital returns. Piper sees further margin gains ahead and is also interested in the company’s new mobility products.