Uber price target raised to $98 from $88 at Piper Sandler

Piper Sandler analyst Thomas Champion raised the firm’s price target on Uber (UBER) to $98 from $88 and keeps an Overweight rating on the shares. The company reported mixed results with bookings mostly inline while EBITDA was better, the analyst tells investors in a research note. The firm says that while its forecasts “tick very slightly higher,” the stock is trading down 10% due to high expectations and “familiar questions” around the prospects from autonomous vehicles. Piper sees little to change its view in Uber’s gig economy market leadership post the earnings report.