Morgan Stanley Sees 5 Reasons to be Bullish on Uber Inc. (UBER) into 2022

Morgan Stanley analyst Brian Nowak reiterated an Overweight rating and $72.00 price target on Uber Inc. (NYSE: UBER) seeing 5 reasons to be bullish into 2022.

1) The company is investing near-term, ahead of demand and competition to reactivate the driver base.

2) Signs of normalcy are already showing where government stimulus has stopped.

3) Eats is holding up better than expected through reopening

4) Uber Pass is now 25% of delivery volumes

5) The analyst sees a $3.2bn last mile grocery delivery business

The analyst stated "2Q labor spend larger but that's now subsiding and states with lower gov’t subsidies offer encouraging harbingers of normalcy. Eats growing nicely through re-opening, Uber Pass ramping and we look to ’22 for strong platform EBITDA. $72 PT has ~85% potential upside with Uber trading near value of rides alone."

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 $41.81 yesterday.

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