Uber price target lowered to $106 from $107 at UBS

UBS analyst Stephen Ju lowered the firm’s price target on Uber (UBER) to $106 from $107 and keeps a Buy rating on the shares. While the mid-to-longer-term risk from robotaxis is unresolved, as the robotaxi business model and value chain still seem in-flux, UBS sees Uber as being in an even better position to compound adjusted EBITDA at about 40% in a 3-year period given better than expected year over year gross bookings growth trajectories in Q4, the analyst tells investors in a research note. UBS sees its fundamental thesis that Uber is a multi-platform, steady mid-term compounder as being intact, and prefers it over DoorDash (DASH) and Lyft (LYFT).