大行评级|美银:上调Uber目标价至95美元 整体业务季度增长强劲

格隆汇
06 Feb

美银证券发表报告,指Uber上季度预订及收入分别为442亿及120亿美元,高于市场预期的435亿及118亿美元,但EBITDA略逊预期。其中召车毛预订高于市场预期1%,外卖收入高于预期2%。公司季内作长期投资影响EBITDA,Uber One全球订户人数升至3,000万,按季增500万。Uber Teen载客次数按季增50%,Uber for Business业务按年升50%。管理层亦指载客增长在竞争对手Waymo的主要业务城市内加速。该行认为公司整体业务季度增长强劲,且有充足证据显示季内推广开支增加带来正面投资回报。

该行认为,市场对自动驾驶风险的负面看法或令股价受压,但公司有信心未来将有多个自动驾驶供应商,公司亦会为相关伙伴提供更佳服务及利用率,使商业模式可行。该行认为Uber股价的自动驾驶折让过多,公司在奥斯汀推出自动驾驶,自动驾驶行业发展,以及有利公司现有或新自动驾驶伙伴的消息,均可对股价有利。该行上调对Uber目标价,由原先93美元升至95美元,为2026年预测每股自由现金流20倍,评级“买入”。

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