Gordon Haskett upgrades Uber on ‘overly punitive’ earnings selloff

Gordon Haskett upgraded Uber (UBER) to Buy from Hold with an $85 price target The analyst believes the 11% share price selloff post the earnings “is overly punitive and offers an attractive entry point.” The shares have come under pressure due to slowing growth concerns, but the majority of the slowdown in the Mobility segment attributable to tough comparisons, the analyst tells investors in a research note. The firm thinks concerns are overblown and investors are putting too much focus on near-term dynamics. Over the long-term, Gordon Haskett says Uber has “multiple levers in place” to continue driving double-digit growth.