Jefferies cuts Delivery Hero to 'hold' on limited Uber deal upside

Delivery Hero SE

27/07/2026 08:11

      **Jefferies downgrades Delivery Hero DHER.DE to "hold" from "buy", saying Uber's UBER.N planned 41.50 euro-per-share offer leaves limited upside for the German food delivery group
** Broker says the stock's expected 12-month total return of less than 15% to its new price target no longer supports a "Buy" rating
** It expects Uber will, "on the balance of current evidence", complete the acquisition on the suggested H2 2027 timeline, with a low probability of an offer price adjustment
** The brokerage cuts price target to 41.50 euros from 42.50 euros, aligning it with Uber's offer price
** Stock has gained 67.25% YTD

(Reporting by Kira Britten)
((Kira.britten@thomsonreuters.com))