1 Wall Street Analyst Thinks Uber Stock Is Going to $80. Is It a Buy?

One of this week’s brighter lights on the stock exchange has been Uber Technologies (NYSE: UBER), which reported estimates-busting numbers before market open on Monday.

Despite that performance, one analyst reduced his price target on the ridesharing company after those figures hit the headlines. He still feels the company’s shares are a buy, however, and he might just be correct.

As the market was still digesting Uber’s second-quarter release, KeyBanc‘s Justin Patterson made his adjustment. He reduced his price target on Uber stock by $10 per share to a new level of $80. As that reduced figure is still more than 23% above the company’s latest closing price as I write this, Patterson maintained his overweight (buy, in other words) recommendation.

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