Mizuho Securities analyst James Lee reiterated a Buy rating and $50.00 price target on Uber Inc. (NYSE: UBER).

"We are constructive on UBER into the quarter despite positive investor expectations. Key points: (1) Airport and airline data in US and Europe continue to point to an improvement YTD, a good indicator for Mobility margins; (2) Consensus Mobility GB appears achievable if not conservative as the 1Q23 seasonal lift is consistent with historical patterns with the potential to gain share as the category leader; (3) Favorable UE should continue playing out in FY23 with more room to improve driver incentives as CAC remains low. Maintain Buy and $50PT. We believe risk/reward is attractive due to strong support to FY23E EBITDA and compelling relative valuation."

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Shares of Uber Inc. closed at $31.05 yesterday.