Uber tracking best day ever after co steps on profit pedal

HC Liquidating

07/02/2020 16:38

** Uber Technologies Inc  UBER.N  shares up 8.7% to $40.29
and on course for biggest one-day % gain since ride-hailing co's
2019 debut
    ** UBER surges as much as 9.3% to $40.54. Stock's best day
prior to Fri was 8.2% gain on Aug 8
    ** Uber accelerated profit target by a year to end of 2020,
even though it expects full-yr loss of more than $1 bln
 urn:newsml:reuters.com:*:nL8N2A68FB
    ** More than a dozen brokerages hike their PTs on stock, per
Refinitiv data; analysts say co set up for transformational year
 urn:newsml:reuters.com:*:nL4N2A72NJ
    ** Sentiment spills over to rival Lyft  LYFT.O , whose
shares are up ~4% on Fri
    ** 29 of 42 brokerages rate UBER "buy" or stronger, 12 are
neutral and 1 recommends selling the stock
    ** With Fri move, UBER has risen 35% YTD, but still about $5
shy of May IPO price

 (Reporting by Lance Tupper)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))