TECH - Uber's Low Growth-Adjusted Multiple Creates An Attractive Entry Point: Morgan Stanley | Benzinga
Morgan Stanley analyst Brian Nowak reiterated an Overweight rating on Uber Technologies, Inc (NYSE:UBER) with a price target of $90.
Nowak flagged that UBER’s growth-adjusted multiple is now lower than Lyft, Inc (NASDAQ:LYFT) and Maplebear Inc (NASDAQ:CART), which creates an attractive entry point.
He highlighted that this pullback has come as investors need more confidence in upward revisions. At the same time, fears around Robotaxi and autonomous driving disruption have re-emerged following the release of Tesla Inc’s (NASDAQ:TSLA) new autonomous capabilities and the announcement of its Robotaxi event on August 8.
Also Read: Tesla’s Robotaxi Plans: Potential Threat Or Future Partner For Uber?
Nowak noted ...