(CercleFinance.com) – Jefferies reiterates its ‘buy’ recommendation on Uber Technologies with a price target raised from 75 to 85 dollars, after the publication of a 10th EBITDA in a row that was better than expected, as well as forecasts above expectations.
‘The results consolidated Uber’s transition towards faster booking growth and lower margin gains, a trade-off that we believe enables more sustainable EBITDA growth in the long term,’ the broker judges.
Despite the strong results, Jefferies believes the stock could remain range-bound until next week’s investor event, when Uber will update its long-term goals and capital return plans.
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