Uber upgraded to Buy at Erste Group on ‘super app’ potential
The Fly

Uber upgraded to Buy at Erste Group on ‘super app’ potential

As previously reported, Erste Group upgraded Uber (UBER) to Buy from Hold. Uber should continue to significantly increase revenue, operating income and net profit in the coming quarters, notes the firm, which also views the potential acquisition of Expedia (EXPE), as raised in media reports as a possibility, as a positive. Expedia has a low valuation and there are high synergy effects with the 155M monthly-active Uber users, contends the firm, which thinks Uber could thus continue to build a “super app” like WeChat in China.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App