Mizuho Securities Raises PT on Uber from $98.45 to $130, Keeps Its Outperform Rating

Uber Technologies, Inc. (NYSE:UBER) is one of the Top 10 Long-Term Stocks to Invest In According to David Tepper. On September 30, Mizuho Securities raised the price target on Uber Technologies, Inc. (NYSE:UBER) from $98.45 to $130, keeping its Outperform rating on the stock.

Uber continues to expand its delivery network beyond cards, bikes, couriers, and sidewalk robots by introducing drones. Wei Fang from Mizuho believes in the growing network of Uber and sees upside as the analyst forecasts the company to become a ‘multi-year compounder’ with a 2025-2028 CAGR of 15% for revenue, 16% for gross profit, and 25% for EPS.

On September 18, Uber announced its partnership with Flytrex to launch drone delivery on the Uber Eats platform. The service will be launched in select U.S. pilot markets by the end of 2025. This is Uber’s first investment in drone delivery technology. The drone delivery service is expected to reduce delivery times to some minutes and cut emissions from traditional methods.

Bernstein also rates Uber Technologies, Inc. (NYSE:UBER) as a Buy, maintaining the price target at $110. Bernstein analyst Nikhil Devnani believes that Uber’s investments in product development, regional expansion, and affordability initiatives should benefit the company in the coming years.

Uber Technologies, Inc. (NYSE:UBER) develops and operates proprietary technology applications. The company operates through three segments, including Mobility, Delivery, and Freight.

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Disclosure: None. This article is originally published at Insider Monkey.