Despite losing some investor confidence amid the Covid pandemic, Uber could be positioning itself for a comeback in 2022, analysts say.
Needham named the rideshare stock its top pick for 2022, though lowered its price target to $75 a share from $77 a share.
Uber said in its fourth quarter it expects adjusted EBITDA of $25 million to $75 million, which would be its second quarter of profitability. CEO Dara Khosrowshahi told Bloomberg last month he expects the company to be near the high-end of that forecast.
“Post-Covid we’re an all-weather company and think we can succeed and grow really in every environment,” Khosrowshahi said, adding that he’s “confident” the company will hit all-time highs in 2022.
Jefferies analysts have also said they expect a quick path back to profits from “reaping the benefits of hard work streamlining the portfolio in recent years + reaching scale in Mobility & Delivery,” CNBC reports.
