Uber Technologies was upgraded to a strong buy due to its robust product innovation, expanding ecosystem, and attractive valuation. The company reported strong Q2 results with adjusted EBITDA up 33% and a margin of 19.8%, indicating improving profitability. Despite a $10 billion multi-year investment in autonomous vehicles that may pressure margins and cash flow, management plans to fund it without new debt. A discounted cash flow model values Uber's shares at around $105, suggesting they remain undervalued despite market skepticism.
Bank of America maintains a 'buy' rating and $101 price target on Uber, expecting it to hold about 73% of the US mobility market by 2028 despite rising competition from autonomous vehicle companies like Waymo, Tesla, and Zoox. These competitors could...
Zoox's regulatory cap limiting its robotaxi fleet to 100 vehicles in Nevada will expire on September 25, enabling the Amazon-owned company to expand its commercial robotaxi service in Las Vegas. This comes as competition intensifies, with Waymo launc...
