Uber (UBER) shares are down 12% on Thursday due to a 2% Mobility Bookings miss for Q3, which BMO Capital tells investors is “overblown.” The firm’s thesis remains intact, as does its Outperform rating and Top Pick, with $13B of U.S. Mobility Bookings to come as R&D resources are increasingly focused on unlocking Suburbia, and BMO says Uber’s 3-year mid-teens growth guidance is on track, and valuation is compelling.
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