UPDATE: Nomura/Instinet Starts Uber Inc. (UBER) at Buy

Nomura/Instinet analyst Masataka Kunugimoto initiates coverage on Uber Inc. (NYSE: UBER) with a Buy rating, PT $80.00.

The analyst comments "We initiate coverage of Uber Technologies (Uber) with a Buy rating and a target price of $80, which offers 33% potential upside to the 16 April 2021 close of $60.35. We consider Uber’s scale in a fast growing market to be a competitive advantage, and see prospects of rapid revenue growth. We see a path to profitability at the adjusted EBITDA level by 4Q21. Achieving profitability could act as a catalyst for further stock price appreciation, in our view."

For an analyst ratings summary and ratings history on Uber Inc. click here. For more ratings news on Uber Inc. click here.

Shares of Uber Inc. closed at $57.85 yesterday.

You May Also Be Interested In

• Deutsche Bank Upgrades Target Hospitality (TH) to Buy
• Uber and Baidu launch driverless robotaxi service in Dubai
• Lucid Capital Markets Starts Eloxx Pharma (ELOX) at Buy