Wedbush Lowers PT on Uber Technologies (UBER) to $78 From $84

Core Insights - Uber Technologies, Inc. (NYSE: UBER) is experiencing mixed analyst ratings, with Wedbush lowering its price target to $78 while maintaining a Neutral rating, and Bernstein raising its price target to $115 with a Buy rating, indicating differing perspectives on the company's future performance [1][2]. Group 1: Analyst Ratings and Price Targets - Wedbush analyst Scott Devitt reduced Uber's price target from $84 to $78, maintaining a Neutral rating on the stock [1]. - Bernstein analyst Nikhil Devnani raised the price target from $110 to $115 and reaffirmed a Buy rating, citing strategic positioning and growth outlook [2]. Group 2: Market Position and Valuation - Uber is trading at a discounted multiple compared to its earnings potential, suggesting that the market may be overreacting to short-term concerns regarding autonomous vehicles (AV) [3]. - The long-term market for AVs is expected to be fragmented, which could benefit Uber due to its platform scale and financial flexibility, making the current stock pullback an attractive entry point for investors [4]. Group 3: Operational Insights - Uber operates as a technology platform with three main segments: Delivery, Mobility, and Freight, providing services ranging from food delivery to ride-sharing [6]. - Ongoing investments in core Mobility and Delivery operations, as well as partnerships in autonomous vehicles, may temporarily constrain margins but are expected to support stronger EBITDA growth and gross bookings over time [5].