Uber price target raised to $96 from $93 at Citi

Citi analyst Ronald Josey raised the firm’s price target on Uber to $96 from $93 and keeps a Buy rating on the shares after meeting with management. The firm is “incrementally confident: that Uber’s investments across products, modalities, and geographies can achieve its three-year gross bookings and EBITDA targets. Uber’s focus on earner supply, which should continue to grow as more markets mature, can lead to greater monthly active platform consumers growth and frequency as Uber’s use cases grow globally, the analyst tells investors in a research note. The firm says Uber remains one of its top picks across the internet sector.