Here’s Why Mizuho Views Uber As Top Pick

Apr 4th, 2022 9:23 EST
  • Mizuho analyst James Lee kept a Buy rating on Uber Technologies Inc (NYSE: UBER) with a $72 price target (100% upside). Lee reiterated Uber as a top pick in the U.S.

  • Washington passed a new law that enabled gig drivers to remain as contractors while receiving benefits like injury protection and paid medical leave.

  • The law compromised the state legislature, unions, and ridesharing companies like Uber and Lyft Inc (NASDAQ: LYFT).

  • Also Read: Uber Et al Campaign Against Democrat’s Efforts To Classify Gig Workers As Employees, Lyft, GrubHub Follow Uber, Boost Gig Driver Pay

  • The structure is similar to Proposition 22 in California, and incremental costs are comparable.

  • He expects Uber to pass these costs to consumers.

  • Price Action: UBER shares traded higher by 0.25% at $36.07 in the premarket on the last check Monday.

  • Photo via Pixabay

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