UBS Maintains Buy Rating On Uber (UBER) Citing Near-Term Margin Concerns, Gross Bookings Forecasts

Core Viewpoint - Uber Technologies Inc. is projected to double in value by 2030, despite recent price target reductions from major financial institutions [1][2]. Group 1: Price Target Adjustments - UBS has lowered its price target for Uber from $122 to $111 while maintaining a Buy rating [1]. - Bank of America Securities reduced its price target from $96 to $93, also keeping a Buy rating, citing uncertainty regarding autonomous vehicles as a short-term pressure [2]. Group 2: Revenue and Market Position - Bank of America noted that consistent revenue growth and improved margins by 2025, along with a more predictable autonomous vehicle landscape, should drive valuation growth in the long term [2]. - BofA emphasized Uber's advantage in the autonomous vehicle market, particularly through its collaboration with Nvidia, which could accelerate the implementation of Level 4 autonomous technology [3]. Group 3: Business Segments - Uber operates in three main segments: Mobility, Delivery, and Freight, across various regions including the US, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific [4].