Uber Inc. (UBER) Likely to See Volatility but Analyst Day Represents a Potential Catalyst - Morgan Stanley

Morgan Stanley analyst Brian Nowak reiterated an Overweight rating and $72.00 price target on Uber Inc. (NYSE: UBER) ahead of the European Commission publishing an initial proposal outlining potential Gig Economy worker regulation, expected on Wed, 12/8. The analyst expects puts and takes but does see a catalyst in the medium term.

He stated "Through it all, we remain OW Uber through uncertainty...with all eyes on the February analyst day. We still believe the market is under-appreciating the multiyear growth and profitability of rides….and value of the platform they are building. While the labor/regulatory debate could become loud tactically, in our view Uber's 2/10/22 analyst day remains a key catalyst. We look for an updated multi-year outlook for Rides, Eats and Freight growth and profitability...including clear assumptions (and scenarios) around Europe and the potential regulatory impact in '24 and beyond. We now turn to our European framework."

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 $35.85 yesterday.

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