Citizens JMP Reiterates Market Perform Rating on Uber Inc. (UBER)

Citizens JMP analyst Andrew Boone reiterated a Market Perform rating on Uber Inc. (NYSE: UBER).

The analyst commented, “Given our view that AVs offer a better service and will ultimately be cost advantaged over traditional ride-sharing, we believe the fragmentation of the AV robotaxi market will determine Uber’s strategy and its share of the transportation TAM over time as we analyze Uber's AV partners to assess their technological progress and expected time to market.”

Also, “To be clear, we are analyzing Uber's (UBER, MP) existing partner base, and acknowledge that Uber can continue to add partners, but we come away from this exercise believing that Uber's existing announced partners, outside of Chinese providers, are likely years away from being able to offer a level 4 robotaxi service.”

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 $69.51 yesterday.

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