Wall Street Bullish on Uber Technologies (UBER), Here's Why

​Uber Technologies, Inc. (NYSE:UBER) is one of the Cheap NYSE Stocks to Buy Now. On December 8, Brian Nowak from Morgan Stanley reiterated a Buy rating on the stock and lowered the price target from $115 to $110. On the same day, Mark Mahaney from Evercore ISI reiterated a Buy rating on the stock with a price target of $150.

​The ratings follow Uber Technologies, Inc.’s (NYSE:UBER) launch of Robotaxi in Dallas, announced on December 3. Management noted that riders in Dallas can now be matched with an Avride robotaxi. This new robotaxi service will be available throughout 9 square miles of Dallas–from Downtown to Uptown to Turtle Creek to Deep Ellum. Management expects to expand its operations into further territory in the future.

​Moreover, earlier on November 26, Uber Technologies, Inc. (NYSE:UBER) had launched Level 4 fully driverless Robotaxi for commercial operations in Abu Dhabi. This launch was in collaboration with WeRide. The launch marked a significant milestone as this was the first city outside the United States where Uber Technologies, Inc. (NYSE:UBER) hosted its driverless operations.

​Uber Technologies Inc. (NYSE:UBER) is a global technology platform that connects consumers with transportation, delivery, and logistics services. The company operates through its Mobility, Delivery, and Freight segments, offering ride-hailing, meal delivery, and freight brokerage solutions.

While we acknowledge the potential of UBER as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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