Uber rises 6.12% as analysts back Q2 and AV strategy

Uber Technologies shares rose 6.12% to $74.78 on Friday as investors weighed analyst reactions to the company’s second-quarter results and its broader autonomous vehicle strategy. Analysts largely maintained positive ratings after earnings, though some cut price targets: DA Davidson kept Buy and lowered its target to $100 from $107, Cantor Fitzgerald maintained Overweight and reduced its target to $90 from $98, and Needham reiterated Buy with a $109 target. Uber reported revenue of $14.19 billion, up 12% year over year but slightly below the $14.24 billion consensus estimate, while adjusted earnings were 81 cents per share, in line with expectations. Investors were also parsing below-consensus third-quarter earnings guidance and management’s push beyond robotaxis into drone-based 10-to-15-minute food delivery through partners including Flytrex.

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