Uber price target raised to $89 from $86 at Loop Capital

Loop Capital raised the firm’s price target on Uber (UBER) to $89 from $86 and keeps a Buy rating on the shares. The uncertainty over long-term industry structure as robotaxi fleets scale will be a primary discussion and limit the stock’s valuation in the near-medium term, but there will also be incremental evidence in 2025 supporting the view that commercialization at scale is many years away, the analyst tells investors in a research note. With many AV technology suppliers, Uber will be well positioned to benefit as the primary demand generation funnel, Loop added.