BofA Touts Uber Technologies Inc. (UBER) Prospects in Autonomous Vehicles on Nvidia Partnership

Uber Technologies Inc. (NYSE:UBER) is one of the best blue-chip stocks to buy for 2026. On January 6, BofA Securities reiterated a Buy rating on Uber Technologies Inc. (NYSE:UBER) and set a $119 price target. The research firm has echoed the company’s positioning in the autonomous vehicle market, which is critical to its long-term prospects.

According to BofA Securities, a strategic partnership with Nvidia positions Uber to accelerate the adoption of Level 4 autonomous technology. It expects Nvidia’s hardware and software solutions to lower barriers to entry for original equipment manufacturers, thereby benefiting the sector. Consequently, Uber would be well-positioned to purchase and lease autonomous vehicles for its network.

BofA Securities also expects increased competition among autonomous vehicle manufacturers to result in more autonomous vehicles on Uber’s network. More AV on Uber networks asserts the research firm’s bullish stance on the stock.

Likewise, analysts at Bernstein SocGen have also reiterated a positive stance on Uber stock, maintaining an outperform rating and a $115 price target. The stance comes amid soaring competition in the AV market.

Uber Technologies Inc. (NYSE:UBER) is a global tech company that operates a multi-sided platform connecting users with transportation, food delivery, and freight services. It offers logistics solutions, with its core segments being Mobility, Delivery, and Freight.

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