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© Reuters.
Bernstein analysts raised Uber's (NYSE:UBER) price target by $5 to $50 per share and argue that a “bull case has arrived.”
Uber shares, which have a Top Pick status at Bernstein, are up almost 50% in the last 2 months as the company’s fundamentals keep improving.
“We believe this is a good business with a scale/market share advantage, and can make the jump to being regarded as such. The company is delivering on its promises of improving profitability, capital discipline, and healthy growth,” analysts said in a client note.
Analysts believe that Uber has the potential “to be one of the most compelling FCF growth stories in Internet over the next 2-3 years.” Analysts project Uber’s FCF will go from around $2 billion today to nearly $6 billion by 2025.
The upside, bull-case scenario sees Uber stock trading at $55-60, analysis shows.
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