Uber Stock Hits All-Time High as JPMorgan Raises Price Target to $105

JPMorgan has raised its price target for Uber Technologies (UBER) from $92 to $105 and maintained an overweight rating following discussions with the company's management, reflecting confidence in Uber's strong profitable growth and positive future outlook. Management highlighted that Uber is on track or ahead of its three-year targets, including mid-high teens percent growth in gross bookings, 30%-40% EBITDA growth, and a 90% conversion of EBITDA to free cash flow. Analysts emphasized Uber's improving position in autonomous vehicle technology, citing partnerships with Alphabet's Waymo and the company's increasing value as a partner and fleet operator in this space. Uber's stock responded positively, reaching all-time highs and gaining over 50% year-to-date, signaling robust investor sentiment. While the average analyst price target is slightly lower, JPMorgan's bullish stance underscores expectations of continued expansion in ride-sharing, delivery services, and autonomous vehicle initiatives. Some valuation models suggest caution, but overall, the outlook remains optimistic supported by Uber's operational progress and growth investments.