Uber price target raised to $96 from $72 at Tigress Financial

Tigress Financial raised the firm’s price target on Uber to $96 from $72 and keeps a Buy rating on the shares. The firm sees Uber using its dominant position in both ridesharing and delivery to drive user growth and use frequency, which leads it to see strong projected booking growth trends over the next three years. The firm, which also noted that Uber announced its first-ever share repurchase authorization of $7B following its first profitable year, points out that its raised target represents a potential return of 35% from current levels.