Citi analyst Itay Michaeli upgraded Uber Technologies (UBER) to Buy from Neutral with an unchanged price target of $45.

The stock closed Friday down 3c to $29.67.

The company's upcoming Q3 results should bring an acceleration in revenue growth and swing investment sentiment more favorably, Michaeli tells investors in a research note.

He believes the results could bring attention back on improving ride-sharing fundamentals. Further, at current levels, the shares are ascribing no value to Uber Eats, contends Michaeli.