Uber price target lowered to $83 from $88 at Loop Capital

Loop Capital lowered the firm’s price target on Uber to $83 from $88 but keeps a Buy rating on the shares. The company’s Q1 results reported last week were relatively in-line, with a modest miss in gross bookings, the analyst tells investors in a research note. Loop adds that it has moderated its forecast for gross bookings, primarily in the Mobility segment, now looking for 22% growth in this year and 18% in 2025, which is down from 24% and 20% previous forecasts.