Uber Inc. (UBER) PT Raised to $100 at RBC Capital with 'Bull Case Intact'

RBC Capital analyst Brad Erickson raised the price target on Uber Inc. (NYSE: UBER) to $100.00 (from $94.00) while maintaining a Outperform rating.

The analyst commented: "Some nitpicks but LT bull case intact; UBER's Q2 biased positively though with a few nitpicks that investors tend to key on. KPI's were good on both Mobility and Delivery, U.S. ride-hailing sounded better competitively q/q (see our preview), strong AV utilization & partner commentary should reinforce views of AV moat expansion and lastly, a front-footed $20B buyback auth lets investors know how management is feeling about the future. Raising estimates modestly, target moves to $100. While numbers may have run up against a higher bar for today, the bull case of compounding growth as the category leader combined with rising optionality for AV's is in place. Incremental margins and some AV capital intensity were the main nitpicks for further monitoring."

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