(News Bulletin 247) – Jefferies reaffirms its ‘buy’ recommendation on Uber, a stock that it includes among its favorite values (‘top picks’), while raising its target price from 47 to 49 dollars, after an analysis of the group profitability.
The broker sees a path to an EBITDA above market expectations, supported by faster growth in bookings in the businesses with the highest margins (mobility and advertising).
Jefferies expects EBITDA to double this year and exceed $5.5 billion in 2024, ‘which should improve confidence in the long-term economy and boost Uber’s multiple’.
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