Bank of America just raised its EUR/USD forecast
Investing.com - BofA Securities has reiterated its Buy rating and $115.00 price target on Uber Inc. (NYSE:UBER), citing the company’s expanding autonomous vehicle (AV) partnerships. Want deeper insights into mobility sector leaders? InvestingPro offers comprehensive analysis of 1,400+ stocks, including detailed reports on major players in the autonomous vehicle space.
The research firm highlighted Uber’s recent AV partnership announcements, including collaborations with Baidu (NASDAQ:BIDU) and Volkswagen (ETR:VOWG_p), bringing Uber’s total AV partnerships to 21 across all segments, with 13 specifically in the Mobility category.
BofA Securities expects artificial intelligence to enable Level 4 autonomous vehicle proliferation in the coming years, creating a competitive market that should benefit Uber as a demand aggregator.
The firm anticipates that once Uber establishes autonomous vehicle economics, new financial partners will emerge, providing another competitive advantage against rivals like Waymo and Tesla (NASDAQ:TSLA).
BofA Securities also suggested that Uber’s latest partnership could encourage other original equipment manufacturers (OEMs) to accelerate their Level 4 autonomous driving technology development.
In other recent news, Lucid Group (NASDAQ:LCID) has announced a strategic partnership with Uber and Nuro to launch a premium robotaxi service, deploying 20,000 autonomous vehicles over six years. This collaboration will integrate Lucid’s vehicle architecture with Nuro’s self-driving technology and Uber’s network, with the first vehicles expected in 2026. As part of this agreement, Uber will invest $300 million in Lucid, and the deal includes a private placement of Lucid shares. Benchmark has raised its price target for Lucid to $7, maintaining a Buy rating, while Stifel reiterated a Hold rating with a $3 price target. Lucid is also seeking shareholder approval for a proposed 1-for-10 reverse stock split, aimed at making its stock more attractive to investors. Additionally, Lucid has unveiled plans to release hands-free driving capabilities via a software update for Lucid Air owners, with features such as Hands-Free Drive Assist and Lane Change Assist. This update is part of Lucid’s DreamDrive Pro suite, which utilizes a comprehensive sensor system to enhance autonomous driving capabilities. The company continues to focus on advancing its technology in the competitive premium electric vehicle market.
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