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Uber Inc. (UBER) PT Lowered to $55 at Loop Capital

March 11, 2022 8:22 AM EST
Get Alerts UBER Hot Sheet
Price: $28.92 -0.92%

Rating Summary:
    39 Buy, 8 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 4 | Down: 17 | New: 8
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Loop Capital analyst Rob Sanderson lowered the price target on Uber Inc. (NYSE: UBER) to $55.00 (from $70.00) while maintaining a Buy rating.

The analyst commented, "We remain bullish on rideshare as a secular growth opportunity with strong scale properties, competitive barriers, and attractive margin potential. We are also bullish on the opportunity for gig networks to facilitate local commerce with customer acquisition and delivery services across categories. The rideshare recovery finally appears to be turning the corner as evidenced by Uber’s positive pre-announcement on Monday. Delivery demand does not appear to be softening on reopening. We are introducing a new valuation framework, moving away from our previous P/S methodology and now discounting 2025 EBITDA as the basis for our $55 price target (from $70 previous). We think the bottom line is this: if management delivers against its targets, investors will be rewarded handsomely."



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