Uber resumed with a Strong Buy at Raymond James

Raymond James resumed coverage of Uber (UBER) with a Strong Buy rating and $90 price target. The firm’s Our “Robo-ride” thesis reflects its view that Uber will scale as Waymo relies on Uber third-party demand to maximize Waymo utilization, while it is also “more cautious” that Tesla (TSLA) FSD advances/Cybertaxi launch will provide the break-through performance gains needed to quickly achieve full autonomy and subsequent state/city permit/licensing processes, the analyst tells investors in a research note. Uber’s autonomous vehicle narrative should swing from perceived risk to a tailwind, the firm added.