Uber Inc. (UBER) PT Raised to $72 at Mizuho Securities

February 11, 2021 6:32 AM EST
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Price: $60.35 -0.64%

Rating Summary:
    37 Buy, 7 Hold, 1 Sell

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Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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Mizuho Securities analyst James Lee raised the price target on Uber Inc. (NYSE: UBER) to $72.00 (from $63.00) while maintaining a Buy rating.

The analyst commented, "As expected, Mobility missed expectations a little bit but Delivery outperformed meaningfully. Despite seeing a mix shift to Delivery, EBITDA came in ahead of consensus on strong cost controls. Management affirmed its goal of break-even for Delivery and profitability for the entire firm by year-end FY21. Most importantly, Delivery GB growth is accelerating into FY21 while mobile trends are improving. With increased confidence in our LT forecast, we are maintaining our FY23 EBITDA of $4.9bn and introducing FY24 EBITDA of $6.6bn. We are raising our SOTP-based PT from $63 to $72, implying 20x FY24 EV/EBITDA."



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