Atlantic Equities upgrades Uber (NYSE: UBER) from Neutral to Overweight after the first post-IPO earnings report, but cuts the PT from $ 55 to $ 52, implying a 31% increase.
Key quote: "We expect the improvement of the long-term competitive landscape to drive the accelerated growth of revenues and the moderation of segment losses in that business throughout FY19, while a new tariff structure of Eats should increase the economy of the food distribution unit and at the same time allow a rapid growth of gross reserves ".
Related: Uber's income refers to comments, transcripts and slides.
Uber shares are up to 2.4% Pre-market at $ 40.74. The competitor Lyft (NASDAQ: LYFT) is up to 2% to $ 56.