Analysts raise Uber’s price target, maintain outperform rating

Economic analysts have raised their price target for Uber, while maintaining their outperform rating for the company. Wolfe Research maintained its outperform rating for Uber, and raised the price target. Wolfe Research expressed a positive stance on Uber today, raising the price target to $92 from $90, while maintaining an outperform rating that reflects the analyst’s view on Uber’s current market position and future prospects.

As a major player in the ground transportation industry with a market cap of $133 billion, Uber has shown strong financial health according to Investing Pro’s analysis, which shows that the company has been profitable over the past twelve months. Wolf Research’s Shweta Khajuria warns that Uber’s mobility business is undervalued compared to Lyft, despite Uber having a 50% market share in international rides excluding China. Additionally, the delivery business is seen trading at a discount to rival DoorDash. The analyst also expects Uber’s EBITDA, currently at $3.45 billion, to rise modestly, driven by the company’s continued efforts toward operational efficiency and product expansion. With annual revenues of $41.95 billion, this side of the business is expected to contribute to the company’s financial health.