https://www.cnbc.com/2023/04/16/stock-futures-climb-as-wall-street-awaits-more-bank-earnings-live-updates.html
Jefferies says Uber shares could rally more than 50%
Shares of Uber were up nearly 1% Monday after Jefferies called the stock one of its top picks. The firm anticipates that shares could surge almost 56% from Friday’s close price.
“We estimate UBER’s core Rideshare/Restaurant Delivery businesses each operate in ~$1 trillion addressable markets, which implies just ~5% penetration and a long runway for growth,” analyst John Colantuoni wrote in a Sunday note to clients.
“We believe UBER’s dominant scale and network effect support greater reinvestment into customer experience/ adoption, which should spur frequency/stickiness and grow market share over time,” he continued.
