Piper Sandler analyst Alexander Potter upgraded Uber Technologies (UBER) to Overweight from Neutral with a price target of $33, up from $31. The analyst recommends pairing Uber against DoorDash (DASH), which he is downgrading from Neutral to Underweight. Vehicle prices are near all-time highs, and a quick reversion to historical pricing seems unlikely, Potter tells investors in a research note. As a result, he thinks "cash-strapped" consumers will increasingly opt to hail rides instead of trying to replace old cars.
Published first on TheFly
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