Uber Outperforms Analyst Expectations – They Are Bullish On Its Strategic Gains and Market Position

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Benzinga

Needham analyst Bernie McTernan maintained Uber Technologies Inc (NYSE:UBER) with a Buy and raised the price target from $71 to $90. The re-rating reflected Uber’s better-than-expected fourth-quarter results and first-quarter guidance, pushing his adjusted EBITDA estimates for fiscal 2024 by +4% to $6.0 billion and fiscal 2026 by +2% to $10.4 billion. He expects an adjusted EBITDA of $8.03 billion in fiscal 2025. While his estimates move higher for fiscal 2024, they are still below the mid to high $6 billion range bulls were at heading into earnings, which now likely requires an acceleration o…

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