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

Uber Technologies, Inc. (NYSE:UBER) is recognized as one of the Top 10 Long-Term Stocks to Consider According to David Tepper. Recently, on September 30, Mizuho Securities elevated the price target for Uber Technologies, Inc. (NYSE:UBER) from $98.45 to $130 while maintaining an Outperform rating on the stock.

Uber is innovating its delivery capabilities by expanding beyond traditional ride-sharing methods. Notably, the company is venturing into drone technology. Analyst Wei Fang from Mizuho expresses optimism over Uber’s expanding logistics network, projecting a compound annual growth rate (CAGR) of 15% for revenue, 16% for gross profit, and 25% for earnings per share (EPS) from 2025 to 2028.

Photo by Zhuo Cheng you on Unsplash

On September 18, Uber made headlines by partnering with Flytrex to introduce drone delivery via the Uber Eats platform, set to launch in select pilot markets across the U.S. by the end of 2025. This marks Uber’s initial foray into drone delivery, aiming to significantly decrease delivery times and lessen the carbon footprint associated with traditional delivery methods.

Additionally, Bernstein has rated Uber Technologies, Inc. (NYSE:UBER) as a Buy, upholding a price target of $110. Analyst Nikhil Devnani notes that Uber’s investments in product innovation, geographic expansion, and affordability initiatives are likely to yield positive results for the company in the foreseeable future.

Uber Technologies, Inc. (NYSE:UBER) is engaged in developing and running proprietary technology applications across three key segments: Mobility, Delivery, and Freight.

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Disclosure: None. This article was originally published on Insider Monkey.