Wolfe Research initiated coverage of Uber with an Outperform rating and $90 price target as part of a broader sector note launching coverage of Global Internet names. The company maintains a solid competitive moat and delivers healthy fundamental trends while benefiting from stable demand trends for its core products and unlocking growth opportunities with new categories, products, verticals, and geographic markets, the analyst tells investors in a research note. Wolfe also gives the stock a Top Pick designations thanks to Uber’s sustainable, high-teens topline growth, meaningful margin expansion, and healthy free cash flows.
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