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Investing.com - TD Cowen has reiterated its Buy rating and $108.00 price target on Uber Inc. (NYSE:UBER), currently trading at $94.88, following a discussion with company executives. According to InvestingPro data, analyst targets range from $82 to $150, with the company showing strong financial health.
The firm’s analysis came after a meeting with Uber’s Head of Investor Relations and CFO of Uber Mobility and Delivery, Balaji Krishnamurthy, where several key business aspects were discussed.
Topics covered in the discussion included U.S. trip growth, moderating insurance cost growth, autonomous vehicle (AV) business models, and the company’s AV partnering strategy.
Additional areas of focus included Uber One membership program, cross-platform initiatives, and the company’s advertising business.
TD Cowen noted it came away from the meeting "incrementally positive" about Uber’s outlook, supporting its decision to maintain both the Buy rating and the $108 price target for the ride-sharing and delivery company. Get deeper insights into Uber’s valuation and 8 additional key tips with a subscription to InvestingPro.
In other recent news, Uber Inc. reported second-quarter results that surpassed Wall Street expectations, leading to several adjustments in analyst ratings and price targets. RBC Capital increased its price target for Uber to $100, maintaining an Outperform rating, citing positive performance indicators in both Mobility and Delivery segments. Cantor Fitzgerald reiterated its Overweight rating with a $106 price target, highlighting Uber’s better-than-anticipated gross bookings and EBITDA figures. Similarly, TD Cowen raised its price target to $108, noting record user numbers and increased trip frequency. Truist Securities also adjusted its price target to $96, reflecting strong demand in Uber’s Mobility and Delivery segments. Meanwhile, Benchmark maintained a Hold rating, pointing to mixed results and raising questions about the behavior of new user cohorts compared to legacy users. These developments reflect growing confidence in Uber’s market position and operational performance.
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