Uber Inc. (UBER) PT Raised to $95 at BofA Securities

BofA Securities analyst Justin Post raised the price target on Uber Inc. (NYSE: UBER) to $95.00 (from $93.00) while maintaining a Buy rating.

The analyst comments: "Bookings/Rev at $44.2bn/$12.0bn beat at Street $43.5bn/$11.8bn, while EBITDA missed slightly. Mobility GBs were 1% above Street (up 24% ex-FX, unch’d vs. 3Q), and Delivery was 2% above. Uber invested in long-term growth in the Q, impacting EBITDA: Uber One subs grew to 30mn globally, up 5mn Q/Q, Uber Teen rides grew 50% Q/Q, and Uber for Business grew 50% Y/Y. For AV bears, management noted mobility growth accelerated in Waymo’s top markets (SF/LA/Phoenix). Overall, a strong quarter for growth, and plenty of evidence that the uptick in 4Q marketing spend had positive ROI."

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