Bank of America reiterates its Buy rating on mobility company Uber with a price target of $101. This is according to a recent analysis.
The bank estimates that Uber will retain 73 percent of the US mobility market in 2028, versus 76 percent today, despite increased competition from autonomous vehicles.
Competing autonomous vehicle players are expected to reach $6 billion in bookings in 2028, equivalent to 5 percent of the market.
At the same time, Bank of America believes the valuation already reflects significant competition from
autonomous vehicle players and considers Uber’s risk/reward attractive.
