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Bank of America lowers Uber price target despite raising earnings estimates after strong Q2 results.

Market News
06 Aug 2026
Proactive Investors
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Bullish
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Bank of America lowered Uber's price target to $101 from $103 but maintained a 'Buy' rating after Uber reported better-than-expected Q2 results, including $58 billion in gross bookings and $2.82 billion in EBITDA. The company showed growth in delivery and mobility segments, with plans to slow headcount growth. Uber guided for higher Q3 gross bookings and EBITDA, with Bank of America expecting results above estimates. The bank remains cautious on Uber's autonomous vehicle progress but sees long-term potential and raised 2026 earnings forecasts, noting Uber's strong free cash flow and strategic opportunities for acquisitions and share buybacks.

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