Uber S&P inclusion positive for shares, says William Blair

William Blair says the inclusion of Uber Technologies into the S&P 500 Index happened a bit earlier than expected and is positive for shares. Uber will transition from “nice to own” by investors to an “allocation consideration” now that it is included in the S&P 500, and the addition can be a significant driver for a stock as it means that funds that passively track the S&P 500 will have to allocate funds toward Uber, the analyst tells investors in a research note. Blair keeps an Outperform rating on the shares.