Dude Where’s My Uber? A Story of Greed and Delusion or Opportunity?

Super Harley

Evercore ISI initiated Uber as ‘outperform’

Evercore ISI initiated the ride-sharing company with a favorable view and said Uber has built a “diverse and powerful” digital platform.

“We initiate on UBER with a $60 PT giving 40% upside on their “diversified growth at scale” or “platform as a product” and in LYFT we see a “ridesharing pure play” with a $74 PT leaving 28% upside. We see powerful near term catalysts for re-rating of both stocks on the back of a quietly improving pricing environment, incentive maturation, and we expect both to show profitability sooner than consensus is modeling. After a clearly rocky debut, we believe increased education on the business model of ridesharing will lead to multiple expansion.”