UPDATE: Nomura/Instinet Starts Uber Inc. (UBER) at Buy
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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."
Shares of Uber Inc. closed at $57.85 yesterday.
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