RBC Capital keeps an Outperform rating and $94 price target on Uber (UBER), noting that the latest driver supply analysis indicates ongoing rationality in the ride-hailing space – a positive for Uber and Lyft. RBC is also positive on the company’s positioning in autonomous vehicle ecosystem longer term, even though there is “very little risk” embedded around Tesla’s (TSLA) upcoming cybercab launch in Austin, the analyst tells investors in a research note. RBC adds however that it would become a “more aggressive buyer” in the event of a Tesla-related dislocation in Uber shares.
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