.September 5, 2024
4:28:00 PM

Cantor Fitzgerald analysts have initiated coverage on Uber (NYSE:UBER) with an Overweight rating and a price target of $90. They are bullish on Uber’s potential for solid growth, expecting a mid-teens compound annual growth rate (CAGR) and margin expansion over the next 2-3 years. The analysts highlight Uber’s strong competitive positioning in the rideshare and delivery markets, which are expected to unlock new opportunities for growth and margins through market expansion, partnerships, and mergers and acquisitions in adjacent categories. Despite challenges posed by autonomous technology, analysts believe Uber’s long-term prospects remain positive due to the slow pace of transportation technology advancements and capital demands.