Uber Inc. (UBER) Mentioned Positively at JMP Securities
JMP Securities analyst Ronald V. Josey reiterated a Market Outperform rating and $80.00 price target on Uber Inc. (NYSE: UBER).
The analyst comments "This morning, Uber hosted its annual product showcase GO-GET where it announced Scheduled UberX Rides and Uber Shuttle for Mobility, Costco as a new merchant partner and Lists to help curate restaurants for Delivery, and Uber One for College Students (a discounted version of Uber One) and Caretaker to facilitate Uber services for elderly family members. Strategically, Uber’s new Delivery products should help to unlock greater frequency as they offer lower-priced rides while Costco is a major addition to selection for Delivery. Beyond the event, we believe Uber continues to execute well as we believe it can sustain high-teens bookings growth for next few years given its TAM, product expansion, and leading competitive position across the vast majority of its markets as we are incrementally positive on shares given their recent pullback and maintain our Market Outperform rating and unchanged $80 price target."
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Shares of Uber Inc. closed at $65.32 yesterday.