Uber Inc. (UBER) PT Lowered to $65 at BofA Securities on Expected Mobility Estimate Cuts

BofA Securities analyst Justin Post lowered the price target on Uber Inc. (NYSE: UBER) to $65.00 (from $66.00) expecting Mobility estimate cuts.

The analyst reiterated a Buy rating, stating "We continue to see Uber as well positioned for a recovery, though we expect Mobility estimate cuts & Delivery estimate increases near-term. Despite negative Mobility data, we still like the stock for ’21; our Strategists estimate the US consumer has excess savings of $1.4tn, and with stimulus coming and case counts now declining we expect a Mobility estimate inflection in 2H’21".

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