Uber (UBER) shares are down 12% on Thursday due to a 2% Mobility Bookings miss for Q3, which BMO Capital tells investors is “overblown.” The firm’s thesis remains intact, as does its Outperform rating and Top Pick, with $13B of U.S. Mobility Bookings to come as R&D resources are increasingly focused on unlocking Suburbia, and BMO says Uber’s 3-year mid-teens growth guidance is on track, and valuation is compelling.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on UBER:
- Microsoft reports Q1 beat, Comcast weighs cable networks spinoff: Morning Buzz
- UBER Earnings: Uber Races Past Estimates in Q3 with Record Profitability
- Unusually active option classes on open October 31st
- Morning Movers: Roblox surges and Estee Lauder sinks following earnings
- Uber sees flat EBITDA margins sequentially