Uber to buy Getir’s Türkiye unit for $335M; shares dip after price target cut
Uber will acquire Getir’s Turkish delivery unit for $335m, expanding its footprint in Türkiye’s on-demand market. Shares slipped 1.1% after Citigroup cut its price target to $110 from $120, with nearly 18m shares trading mid-day.
1. Türkiye Delivery Acquisition
Uber has agreed to purchase Getir’s delivery business in Türkiye for $335m, marking a strategic move to deepen its on-demand grocery and convenience offering in a fast-growing market. The deal is expected to integrate Getir’s local infrastructure and customer base into Uber’s existing logistics network.
2. Analyst Downgrade and Market Response
Following the acquisition announcement, Citigroup reduced its price target on the stock from $120 to $110 while maintaining a buy rating. The stock fell 1.1% with approximately 17.9m shares changing hands mid-day, suggesting investor caution over deal valuation and expected returns.