Uber Skids Despite Analyst Touting 'Favorable' Road Ahead

This post was originally published on this site
© Reuters. © Reuters.

By Yasin Ebrahim

Investing.com – Uber (NYSE:) slipped on Thursday even as one analyst suggested the ride-hailing company is set to enjoy a smoother journey as trends in its U.S. and international markets have steadied.

Guggenheim Securities maintained its buy rating on Uber and its $40 price target on the stock, saying the outlook on the company was “favorable” ahead of the quarterly earnings.

Uber was down about 1%.

“We approach the earnings season with a generally upbeat view of Uber,” Guggenheim said.. “Trends in the U.S. appear relatively stable and (rest of the world) trends (are) healthy…We have a favorable (fourth-quarter) view.”

With concerns mounting about thin margins in Uber’s ride-hailing business, Guggenheim suggested that potential move away from its loss-making India business would underpin overall profitability.

But not all on Wall Street appear to share the optimism.

Just a day earlier, Goldman Sachs (NYSE:) was reported to have cashed on its stake in the company, according to CNBC.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment