Bank of America says its analysis of Uber points to 'significant upside potential'

CNBC2021-07-02

Bank of America remains bullish on Uber, saying the stock’s first-half underperformance makes the shares cheap considering its valuation versus peers and its stake in Chinese ride-hailing giant Didi, ...

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DivTrader
2021-07-02
DivTrader
News is great
诗迷
2021-07-02
诗迷
Like and comment
- tanks09:
  Ok. jiayou!!
- jijimo:
  Ok
LWayne
2021-07-02
LWayne
Great
lfc
2021-07-02
lfc
Gd read
woshihui
2021-07-02
woshihui
Like pls
Ravi7174
2021-07-02
Ravi7174
Good

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But that means Uber’s stock is trading at a big discount, according to BofA.\nBank of America did a sum-of-the-parts analysis, applying DoorDash’s 12.5 estimated enterprise value-to-revenue multiple to Uber’s food delivery business and Lyft’s 4.3 estimated EV/revenue valuation to Uber’s mobility business.\nAdditionally,Didi Chuxing raised $4.4 billion in its initial public offering earlier this week. Didi shares closed nearly 16% higher on its second day of trading Thursday, bringing its market cap to nearly $79 billion.\nThe firm noted Uber owns a significant stake in Didi — about 12% equity ownership, translating to more than $9 billion in equity value as of Thursday. BofA calculates Didi brings an incremental roughly $2 per share in equity value for Uber.\nTaking into account the sum-of-the-parts valuation and adding in the value of the Didi stake gets Bank of America to a value even higher than its $71 price target, the firm said. 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