RBC Capital Bullish on Uber Technologies (UBER), Cites AV Tech Development

Core Insights - Uber Technologies Inc. is currently viewed as one of the most profitable large-cap stocks, with RBC Capital raising its price target to $110 from $100 while maintaining an Outperform rating [1] - The company's Q3 2025 earnings report showed strong performance, particularly in light of high expectations, with consistent core fundamentals and positive investor sentiment driven by advancements in Autonomous Vehicle technology [1][3] Financial Performance - In Q3, Uber reported a 22% increase in Total Trips, marking the fastest growth rate since 2023, supported by a 21% surge in Mobility Trips [2] - Overall Gross Bookings grew by 21%, leading to $13.47 billion in revenue, which represents a year-over-year increase of 20.37% [2] - The company earned $3.11 per share, exceeding Wall Street estimates by $2.42 [2] Business Expansion - Beyond ride-sharing, Uber is expanding into new verticals, with the Grocery Retail segment achieving a Gross Bookings Run Rate of approximately $12 billion, growing faster than traditional restaurant delivery [3] - Future growth investments include Autonomous Vehicles, local commerce, and Generative AI solutions, highlighted by a partnership with NVIDIA to develop a reference architecture for AVs [3] Company Structure - Uber operates through three main segments: Mobility, Delivery, and Freight, utilizing proprietary technology applications on a global scale [4]