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

Latest Ratings for UBER

Mar 2022

Loop Capital

Maintains

Buy

Mar 2022

Deutsche Bank

Initiates Coverage On

Buy

Feb 2022

Wedbush

Maintains

Outperform

View More Analyst Ratings for UBER

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