Uber Upgraded To Overweight From Equal Weight At Wells Fargo

Wells Fargo analyst Brian Fitzgerald upgraded Uber Technologies (UBER) to Overweight from Equal Weight with a price target of $41, down from $45.

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With the shares down 45% since February 6, Uber is attractively priced, Fitzgerald tells investors in a research note.

The company's value remains tied to growth trends that will play out "long after" coronavirus-driven disruptions have subsided, namely smartphone penetration and riders shifting spend from personal car ownership to ridesharing, contends the analyst.

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