TECH - Uber Gets 9% Price Target Boost From Wedbush After Investor Day Ross Gerber Calls It 'Fire Breathing Dragon' | Benzinga
Shares of Uber Technologies Inc (NYSE:UBER) jumped 14.7% on Wednesday, closing at $79.15, following the company’s investor day. Wedbush analysts remain bullish and increased their 12-month price target to $85.
Analyst’s Positive Outlook: Wedbush boosted its Uber price target from $78 to $85, reiterating its “outperform” rating.
What Analysts Say: During investor day, Uber’s three-year outlook surpassed analyst expectations. The company anticipates mid-to-high teens CAGR growth in gross bookings and 90%+ annual free cash flow generation over the next three years.
“…we come away from the event increasingly constructive on the long-term growth trajectory of the business,” the analysts said in a ...