Can Uber Rocket to $90 per Share? 1 Wall Street Analyst Thinks So.
's (NYSE: UBER) latest move to bolster its food delivery business is getting positive attention from Wall Street. The titan of ridesharing and delivery services recently announced an agreement to acquire Delivery Hero's Foodpanda delivery service in Taiwan for $950 million in cash plus a $300 million equity investment in Delivery Hero.
Uber Eats already has a strong presence in Taiwan, so there's a good chance the $1.25 billion investment can cement its lead position on the densely populated island. Encouraged by the upcoming acquisition, Morgan Stanley analyst Brian Nowak reiterated his firm's overweight rating and $90 per-share price target.
Shares of Uber are about 20% below the high water mark the stock set in March, but Nowak expects them to bounce back. At recent prices, a $90 price target for Uber implies a gain of about 36% over the next 12 months.
Source Fool.com
Uber Technologies Inc Stock
The stock is an absolute favorite of our community with 70 Buy predictions and no Sell predictions.
With a target price of 78 € there is a positive potential of 31.09% for Uber Technologies Inc compared to the current price of 59.5 €.
