Truist analyst Youssef Squali raised the firm’s price target on Uber (UBER) to $92 from $90 and keeps a Buy rating on the shares. The firm is raising its consolidated Q1 gross bookings estimate based on our positive read of the Truist Card Data, which indicates Mobility bookings are tracking in line to slightly ahead of consensus while Delivery bookings are tracking ahead, the analyst tells investors in a research note. The positive trends in the data reflect a healthy underlying marketplace driven by a resilient consumer, sticky products across both offerings, and ongoing improvements to the platform, the firm adds.
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