Uber Stock Gets Buy Rating From Rosenblatt as Dubai Robotaxi Service Goes Fully Driverless
TLDR
- Baidu’s fully driverless Apollo Go vehicles are now carrying paying Uber riders in Dubai
- Pony.ai agreed to deploy 2,000+ robotaxis across Europe through Uber’s platform
- UBER trades at around 15x trailing free cash flow with a P/E of 16.6
- Rosenblatt initiated coverage with a Buy rating and $100 price target
- Wall Street holds a Strong Buy consensus with an average target of $104.39
Uber launched fully driverless Baidu robotaxi rides in Dubai, marking a step forward in its autonomous vehicle strategy. The move adds Baidu to a growing list of AV partners operating through Uber’s platform in the same city.
Uber stock currently trades at $75.65, down 19% over the past year. Rosenblatt initiated coverage on September 1 with a Buy rating and a $100 price target, citing the current price as an attractive entry point.
The firm noted that autonomous vehicles account for less than 0.5% of trips today, and that the timeline for meaningful AV disruption is longer than markets initially expected. That gives Uber more runway than some investors feared.
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