Uber Investors Remain Optimistic Despite Robotaxi Risks

Uber investors are optimistic about the company’s growth potential despite competition in self-driving technology. Shares have surged 60% this year, driven by partnerships with robotaxi startups like Waymo and expansion into new markets. Concerns remain about long-term competition, but Uber’s strategy of partnering with rivals has garnered support from analysts.

Uber has been investing in new areas to drive revenue growth, with 15% expected in 2025. The company has formed partnerships with car manufacturers and technology developers worldwide. Analysts are bullish on Uber’s strategy of collaborating with self-driving competitors. However, some see risks in the evolving landscape of autonomous vehicles.

Analysts have mixed views on Uber, with three-quarters holding buy-equivalent ratings. The stock is trading close to the average price target of $98. Bank of America raised its price target to $115, citing optimism in Uber’s autonomous vehicle position. Additionally, Uber drivers may see a 2.5% pay increase due to recent legislation.

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Read more at Yahoo Finance: Uber Traders Shrug Off Robotaxi Risks as Stock Powers to Record