Is Uber Technologies (UBER) One of the Best Transportation Stocks to Buy According to Wall Street Analysts?

Uber Technologies, Inc. (NYSE:UBER) is one of the best transportation stocks to buy according to Wall Street analysts. BTIG reaffirmed a bullish outlook on Uber Technologies, Inc. (NYSE:UBER) on February 11, assigning a Buy rating to the stock with a $100 price target. The rating update came after Uber Technologies, Inc. (NYSE:UBER) and Baidu, Inc. released an announcement on February 10, in partnership with Dubai’s Roads and Transport Authority (RTA), regarding the next phase of their global partnership and bringing the Apollo Go autonomous ride-hailing service to the Uber platform in Dubai. The collaboration directly aligns with Dubai’s ambitious goal of having 25% of all transportation trips be autonomous by 2030.

The fully autonomous vehicles are anticipated to launch in the coming month and will be available through the Uber app across select locations within the Jumeirah area. Management further reported that the deployment will expand based on operational learnings and regulatory approvals across the city.

In a separate development, Citi reaffirmed a Buy rating on Uber Technologies, Inc. (NYSE:UBER) on February 6 and adjusted the price target to $110 from $120. Roth Capital also adjusted the price target on Uber Technologies, Inc. (NYSE:UBER) to $105 from $110 on February 5 and maintained a Buy rating on the shares. The firm stated that the company delivered a beat on earnings, and its underlying metrics and segment results also came in above expectations.

Uber Technologies, Inc. (NYSE:UBER) operates as a technology platform that offers ride services and merchant delivery service providers for food, groceries, meal preparation, and other delivery services. The company’s operations are divided into Delivery, Mobility, and Freight. It is pioneering the introduction of autonomous vehicles to move people and goods more reliably, efficiently, and affordably.

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