Barclays raised the firm’s price target on Uber (UBER) to $97 from $86 and keeps an Overweight rating on the shares. The company reported and guided gross bookings and EBITDA that were broadly in-line, the analyst tells investors in a research note. The firm says the company is “executing solidly” in a volatile macro environment. The shares should hold up better than the rest of consumer internet owing to Uber’s “recession resistant model,” contends Barclays.
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