Major Bank Ratings | Citi: Lowers Uber target price to $110, reiterates "Buy" rating
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Glonghui, February 9th|Citi released a research report stating that it is encouraged by Uber's plan to launch autonomous driving services in 15 cities by the end of the year, as this move highlights its hybrid network advantage, with each city advancing step by step. Prior to this, the bank believes Uber is achieving sustainable growth by building user lifetime value in MAPC and expanding into lower-density markets, which currently account for about 20% of global mobility orders and are growing approximately 1.5 times faster than high-density markets. It also expects that the growth in U.S. ride volume and total bookings will continue to accelerate through 2026. Given the strong fundamentals and an increasingly clear autonomous driving roadmap, Citi reiterates its "Buy" rating on Uber, but lowers the target price from $120 to $110.
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