Uber: Wedbush adds stock to 'best ideas' list

(CercleFinance.com) - Wedbush Securities has added Uber Technologies to its "best ideas" list, saying the "dark clouds" that have accumulated since the company's IPO are starting to clear.


The broker, which has an "outperform" rating on the stock, has raised its target price for Uber shares from 45 dollars to 50 dollars, reflecting higher EBITDA estimates.

Wedbush also said that it is convinced that streamlining and consolidation in food delivery, and the divestiture of Uber Eats India, will support stronger results from Uber Eats with other strategic moves expected on this front.

Uber shares were up 2.2% at 37.1 dollars in heavy early morning trading on the Nasdaq.

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