Rosenblatt initiates Uber with "buy", Lyft with "neutral"
UBER•Rosenblatt starts coverage on Uber and Lyft
Brokerage Rosenblatt initiates coverage on Uber UBER.N with a buy rating and a price target of $100; Lyft LYFT.O with a neutral rating and a price target of $19.
The new Uber price target represents about 33% upside to the stock's last close; Lyft's target represents about 14% upside to the stock's last close.
Brokerage views on autonomous vehicles and competition
The autonomous vehicle (AV) disruption timeline is longer than the market initially feared and Uber’s multi-partnership strategy is positioned to capture volume regardless of how the supply dynamic unfolds, says the brokerage.
It adds that international expansion through acquisitions diversifies Lyft's business but does not resolve its core competitive gap.
Rosenblatt says AV risk is more concerning for Lyft than for Uber, citing Lyft's more commoditized driver network and smaller scale.
Existing broker sentiment and recent stock performance
- Uber: 45 of 52 brokerages rate UBER buy or higher, six and one ; median price target is - data compiled by LSEG.
