Убер Тецхнологиес Инц (НИСЕ: УБЕР) is up 4.0% on Wednesday after a Barclays analyst said the stock could more than double from here.
Uber could benefit from a recession
Ross Sandler reiterated his “overweight” rating on Uber this morning and raised his price target further to $53 a share. Previously, he had a PT of $48 on the stock. The analyst wrote:
One of the best times to generate positive returns in consumer internet tends to be when tocks go from sentiment doghouse to less-bad and eventually to the positive camp – we think this may be one of those moments for Uber.
Sandler expects the American mobility company to be a “major beneficiary” of recession. Залихе down 55% from its all-time high offers a very attractive entry point, he added.
Jim Cramer agrees to the bullish call
Слажем се са биковским позивом ЦНБЦ-јев "Скуавк он тхе Стреет", Jim Cramer recalled that Uber Technologies Inc is succeeding in bringing its principal cost down. He added:
Barclays says the time is right. Uber is at a radical inflection point because with the so-called recession, drivers are now available. And everyone’s going out. So, yes, I also think that this is the time to start accumulating position.
Last month, Uber reported market-beating results for its fiscal first quarter. The $51 billion company is expected to turn профитабилан у 2023.
Порука Убер би могао да буде деоница од 53 долара: „време је да почнемо да акумулирамо позицију“ појавио прво на Инвезз.
Source: https://invezz.com/news/2022/06/08/uber-could-be-a-53-stock-time-to-start-accumulating-position/