TD Cowen keeps Buy on Uber after CFO meetings

TD Cowen maintains a Buy rating on Uber (UBER) with a $90 price target after hosting the company’s CFO for investor meetings. The key topics included Mobility and Delivery growth drivers, Uber’s partnership approach to autonomous and upcoming autonomous vehicle launches, rising EBITDA margins and free cash flow driving capital allocation optionality, and buybacks ramping into 2025, the analyst told investors earlier in a research note. TD says Uber’s core Mobility business is likely to grow low to mid teens year-over-year looking forward, supported by “multiple growth drivers over the next several years,” including entrance into new geographies and expansion within existing ones, namely into less dense markets. Around 50% of the U.S. has subpar rideshare coverage, Uber told TD.