Uber Inc. (UBER) PT Lowered to $88 at TD Cowen

TD Cowen analyst John Blackledge lowered the price target on Uber Inc. (NYSE: UBER) to $88.00 (from $90.00) while maintaining a Buy rating.

The analyst commented, "1Q24 GB's were ~1.6%/0.7% below our / cons. est's, as Mobility GBs were lighter than expected. Revenue was ~2% above our est despite the GB results as Mobility take rates improved, and 1Q EBITDA was ~4% above our est. 2Q24 GB guide x-fx was roughly in-line with our est (at midpoint), while the EBITDA outlook was in-line with consensus. We lowered est's modestly; DCF based PT to $88, maintain Buy."

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