After analyzing the cost inputs of U.S. ride-sharing, JMP Securities analyst Andrew Boone found that over 40% of ride-sharing costs go to driver labor, and as technology replaces this variable cost with fixed costs, adoption of ride-sharing services will increase, expanding the market, the analyst tells investors in a research note. The firm, which reiterated its Outperform rating and $95 price target on Uber (UBER), says it thinks Uber has multiple options to retain its market position, while autonomous vehicles expand its opportunity.
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Read More on UBER:
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