Bank of America Raises Uber Price Target to $115 Amid Tax Reform, Autonomous Vehicle Expansion

Bank of America has raised its price target for Uber Technologies from $97 to $115, citing several positive factors including a new U.S. law exempting tips from taxation, which is expected to boost Uber drivers' take-home pay by about 2.5%, translating to approximately $1 billion in tax savings for drivers this year. This tax benefit is seen as a modest tailwind to driver supply and could indirectly support Uber's revenue take rates. Additionally, Uber's core businesses showed strong second-quarter momentum with increased bookings and growth in mobility and delivery segments. The analysts also highlighted the potential expansion of autonomous vehicle operations through Moove, a fleet manager backed by Uber, which is raising $1.2 billion to purchase Waymo-built autonomous vehicles. Other analysts from Wells Fargo and Cantor Fitzgerald have also upgraded their price targets and ratings, reflecting broad optimism about Uber's growth prospects. Overall, Uber's stock has significantly outperformed the market in 2025, driven by these multiple growth and policy tailwinds.