大行評級|美銀:上調Uber目標價至95美元 整體業務季度增長強勁
美銀證券發表報吿,指Uber上季度預訂及收入分別為442億及120億美元,高於市場預期的435億及118億美元,但EBITDA略遜預期。其中召車毛預訂高於市場預期1%,外賣收入高於預期2%。公司季內作長期投資影響EBITDA,Uber One全球訂户人數升至3,000萬,按季增500萬。Uber Teen載客次數按季增50%,Uber for Business業務按年升50%。管理層亦指載客增長在競爭對手Waymo的主要業務城市內加速。該行認為公司整體業務季度增長強勁,且有充足證據顯示季內推廣開支增加帶來正面投資回報。
該行認為,市場對自動駕駛風險的負面看法或令股價受壓,但公司有信心未來將有多個自動駕駛供應商,公司亦會為相關夥伴提供更佳服務及利用率,使商業模式可行。該行認為Uber股價的自動駕駛折讓過多,公司在奧斯汀推出自動駕駛,自動駕駛行業發展,以及有利公司現有或新自動駕駛夥伴的消息,均可對股價有利。該行上調對Uber目標價,由原先93美元升至95美元,為2026年預測每股自由現金流20倍,評級“買入”。
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