Uber price target lowered to $95 from $99 at Truist

Truist lowered the firm’s price target on Uber (UBER) to $95 from $99 but keeps a Buy rating on the shares. The company’s Q3 results and Q4 guide were “in line plus”, showing sustained momentum across Mobility & Delivery fueled by a resilient consumer, sticky products across both offerings and operational efficiencies that helped drive record free cash flow and margins, the analyst tells investors in a research note. Uber’s gross bookings growth is decelerating, but the new Delivery & Mobility use cases and Uber One are driving higher Monthly Active Platform Consumers – MAPCs – and order frequency, which should help sustain mid-teens CAGR in gross bookings with strong margin accretion through 2026, the firm added.