Citi Reiterates Buy Rating on Uber Inc. (UBER)

Citi analyst Ronald Josey reiterated a Buy rating and $102.00 price target on Uber Inc. (NYSE: UBER).

The analyst comments "At its annual GO-GET product showcase yesterday, Uber announced several new products & services that we believe build on its three core tenets of continued growth: Affordability, Frequency, and Convenience. Some of the newer Mobility products like Price Lock, Ride Passes, and Route Share should make Uber’s 3B+ commuter trips in ’24 more affordable and convenient. While its new Savings Slider within Delivery could lead to 15-20% savings on a user’s grocery list. And with Uber One Member Days starting on 05/16, we look for greater member adoption and usage. Bigger picture, we believe these products complement Uber’s investments across newer use cases, including the build-out of Suburbs, and improving frequency as AV scales and its 30M+ Uber One members adopt more services. We reiterate our Buy rating and $102 TP."

For an analyst ratings summary and ratings history on Uber Inc. click here. For more ratings news on Uber Inc. click here.

Shares of Uber Inc. closed at $90.41 yesterday.

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