- Analysts at BofA maintained a ‘Buy’ rating on the UBER stock, with a price target of $103. This implies an upside of more than 32% from current levels.
- The firm added that Uber appears to be in a position to have robotaxis from multiple automakers on its platform operating in Los Angeles and San Francisco by 2027.
- BofA said that the expanded Nvidia partnership could result in a growing roster of AV suppliers, which could make the outlook more favorable for Uber in the medium term.
Uber Technologies Inc.’s (UBER) partnership with Nvidia Corp. (NVDA) has quelled Wall Street’s concerns about the company being left behind in the race for autonomous ride-hailing.
According to TheFly, analysts at BofA stated that the production of autonomous vehicles can shift the debate about their supply on Uber’s network.
Uber shares gained more than 5% in Tuesday’s opening trade. Retail sentiment on Stocktwits around the company trended in the ‘extremely bullish’ territory with message volumes at ‘extremely high’ levels at the time of writing.
What Did The Analysts Say?
Analysts at BofA maintained a ‘Buy’ rating on the UBER stock, with a price target of $103. This implies an upside of more than 32% from current levels.
The firm added that Uber appears to be in a position to have robotaxis from multiple automakers on its platform operating in Los Angeles and San Francisco by 2027.
This comes amid Alphabet Inc.’s (GOOG, GOOGL) Waymo and Tesla Inc. (TSLA) announcing plans to expand their autonomous ride-hailing services. The analyst noted that this had resulted in concerns that Waymo and Tesla could take market share in the U.S. before Uber could ramp up the supply of AVs on its network.
The firm said that the expanded Nvidia partnership could result in a growing roster of AV suppliers, which could make the outlook more favorable for Uber in the medium term.
Uber To Have Nvidia-Powered Robotaxis In 28 Cities
On Monday at GTC 2026, Uber announced that Nvidia will launch its L4 software-powered robotaxis on the ride-hailing giant’s network across 28 cities by 2028. This rollout would begin with Los Angeles and San Francisco in the first half of 2027.
“By expanding our partnership with NVIDIA and combining advanced AI with Uber’s global network and operating experience, we are laying the foundation for an increasingly multi-player AV world,” said Uber CEO Dara Khosrowshahi.
Nvidia CEO Jensen Huang called it the “ChatGPT moment” for physical AI, while adding that Uber is building one of the world’s most expansive autonomous ride-hailing platforms.
How Did Stocktwits Users React?
UBER was among the top trending tickers on Stocktwits at the time of writing.
One bullish user stated that Level-4 autonomous driving has been democratized.
Another user stated that Uber is positioning itself as the platform for every robotaxi player.
UBER stock is up 40% year-to-date, while NVDA stock is down 2%. The SPDR S&P 500 ETF Trust (SPY) is up 19% over the past 12 months, while the iShares Core S&P 500 ETF (IVV) is up 18%.
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