Uber Inc. (UBER) PT Raised to $38 at JPMorgan
JPMorgan analyst Doug Anmuth raised the price target on Uber Inc. (NYSE: UBER) to $38.00 (from $32.00) while maintaining a Overweight rating.
The analyst comments "Uber is the global leader in two secular growth industries, ridesharing and food delivery, and is leveraging its massive scale and technological expertise to rapidly launch and scale new products in 50+ countries. We expect Uber to emerge stronger post-Covid-19 given 1) Leadership position in rideshare in all its markets; 2) Eats to see accelerating growth as food delivery adoption increases; 3) Ability to expand into other big TAMs such as grocery and package delivery; 4) Focus on achieving profitability by 2021; & 5) Strong Balance Sheet with cash as of 1Q20 standing at $9B."