Uber price target raised to $95 from $69 at Argus

Argus analyst Bill Selesky raised the firm’s price target on Uber to $95 from $69 and keeps a Buy rating on the shares. The company’s updated financial targets were meaningfully ahead of the firm’s original projections as it expects gross bookings growth in the ‘mid-to-high teens’ and a compound annual growth rate of 30%-40% in EBITDA over the next three years, the analyst tells investors in a research note. Uber also guided to free cash flow conversion of 90% or more on an annual basis, and taken all together, the metrics presented were positive for the near- and long-term prospects, the firm added.