JPMorgan Hikes Its Price Target on UBER Stock, Citing Autonomous-Vehicle Catalysts
JPMorgan increased its price target on Uber Technologies Inc (UBER) to $105 from $92 while keeping an Overweight rating on the name.
The bank expects UBER to get a lift from its increasing involvement in the autonomous-vehicle space.
JPMorgan’s Take on Uber Technologies Inc (UBER)’s Alliances With Autonomous-Vehicle Firms
After meeting with Uber’s management, the bank reports that the company’s alliance with Alphabet’s (GOOG,GOOGL) Waymo is expected to generate improved utilization rates going forward. Moreover, the partnership may expand, JPMorgan reported.
Uber is likely to talk more about its utilization of autonomous vehicles as its activity in this area increases and as its pilot program with Waymo in Austin…
