"Analyzing Uber's Stock Performance and Future Projections"
Originally Published 1 year ago — by MarketWatch
Despite a 150% surge in Uber's stock last year, Bernstein analyst Nikhil Devnani believes the stock chart may appear "scary," especially with rising expectations ahead of the company's earnings report and investor event. However, he suggests that taking a longer-term view reveals solid fundamentals, strong cash generation, and market leadership, making the stock more attractive. Devnani advises investors to consider the success of category winners like Meta Platforms and Amazon, and maintains an outperform rating with a $70 target, nearly in line with the current price.