On January 15, analyst Jake Fuller from BTIG reiterated a Buy rating for Uber Technologies, Inc. (NYSE:UBER) and set a price target of $100.
A day earlier, on January 14, Exane BNP Paribas also initiated coverage of the company with a Buy rating and a $108 price target.
BTIG described Uber as one of the most compelling growth stories in the consumer internet sector. The firm pointed to factors including secular growth, margin expansion, and share buybacks. It acknowledged expectations of mixed results in the US market but noted this represents a minority of Uber's overall business. BTIG expects the company to meet its guidance and projects foreign exchange-neutral bookings at around 20%.
Similarly, BNP Paribas identified Uber as a winner in mobility and delivery, despite long-term concerns about autonomous vehicles impacting its business.
Uber Technologies operates a technology platform providing ride services and delivery services for food, groceries, and other items.