TECH - Uber's 'Kelce-Like Quarter:' Wedbush's Ives Boosts Price Target Lauds One Of Tech World's 'Best Turnarounds Ever' While 'Little Brother Lyft Just Watches' | Benzinga
Wedbush analysts maintained their bullish stance on Uber Technologies Inc (NYSE:UBER) following the ride-hailing company’s robust fourth-quarter performance and optimistic earnings forecast for the first quarter of 2024.
Analyst’s Positive Outlook: Wedbush has upped its price target on Uber to $78 from $67 while reaffirming its “outperform” rating.
What Analysts Say: In a note released on Wednesday, the analysts highlighted Uber’s consistent margin expansion, backed by a track record of surpassing EBITDA guidance over multiple quarters. They underscored the management’s ongoing emphasis on enhancing user frequency globally and driving Uber One adoption.
“With healthy underlying growth and margin drivers in place, we believe Uber is well positioned heading into its investor day next week, where the company is expected to announce a share repurchase program and provide updated financial targets,” the analysts commented.
Uber’s Performance: Uber ...