Advertisement
Singapore markets closed
  • Straits Times Index

    3,224.01
    -27.70 (-0.85%)
     
  • Nikkei

    40,168.07
    -594.66 (-1.46%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Bitcoin USD

    70,704.95
    +1,831.04 (+2.66%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Gold

    2,245.50
    +32.80 (+1.48%)
     
  • Crude Oil

    83.05
    +1.70 (+2.09%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • FTSE Bursa Malaysia

    1,530.60
    -7.82 (-0.51%)
     
  • Jakarta Composite Index

    7,288.81
    -21.28 (-0.29%)
     
  • PSE Index

    6,903.53
    +5.36 (+0.08%)
     

Uber Skids Despite Analyst Touting 'Favorable' Road Ahead

By Yasin Ebrahim

Investing.com – Uber (NYSE:UBER) slipped on Thursday even as one analyst suggested the ride-hailing company is set to enjoy a smoother journey as trends in its U.S. and international markets have steadied.

Guggenheim Securities maintained its buy rating on Uber and its $40 price target on the stock, saying the outlook on the company was "favorable" ahead of the quarterly earnings.

Uber was down about 1%.

“We approach the earnings season with a generally upbeat view of Uber,” Guggenheim said.. "Trends in the U.S. appear relatively stable and (rest of the world) trends (are) healthy…We have a favorable (fourth-quarter) view."

ADVERTISEMENT

With concerns mounting about thin margins in Uber's ride-hailing business, Guggenheim suggested that potential move away from its loss-making India business would underpin overall profitability.

But not all on Wall Street appear to share the optimism.

Just a day earlier, Goldman Sachs (NYSE:GS) was reported to have cashed on its stake in the company, according to CNBC.

Related Articles

Bank of America adds advisors to cater to the ultra-wealthy

Spirit Airlines Soars on Updated Guidance

France seeks to shield EDF, consumers with nuclear power market reform