Here are the biggest calls on Wall Street on Thursday
Wedbush is bullish on the company's ability to be an "unrivaled" ridesharing platform.
"We are initiating on UBER with an OUTPERFORM rating and $65 price target. The ridesharing industry has become one of the most transformational growth sectors of the global consumer market over the past five years with Uber establishing itself as the clear #1 player and in our opinion is paving a similar road to what Amazon did to transform retail/ecommerce and Facebook did for social media .
"We initiate coverage of UBER with a NEUTRAL rating and $53 price target. UBER is a leading online transportation network that's revolutionizing personal mobility, and is leveraging its platform to similarly disrupt the global food delivery and logistics/freight markets. UBER filed its S-1 on April 11th and is expected to IPO on Friday May 10th, with a pricing range of $44-$50.
"While our estimates, target multiples, and Price Target are all high-er, we believe the ~30% YTD return leavesfully valued at current levels. Accordingly, we believe downside risk, at current levels, should RevPAR con-tinue to stagnate or decelerate further, balances the upside benefit of a continued, and warranted, greater appreciation of the business model.
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