Uber Wins Guggenheim Backing Over Strong Upside Potential

Uber Technologies Inc. (UBER) drew investor attention on Wednesday after Guggenheim launched coverage on the stock with a ‘Buy’ rating, endorsing the ride-hailing giant’s growth potential. 

The firm set a $140 price target, pointing to the company’s leadership in network scale, technology, and brand strength as key advantages in the evolving mobility market, according to TheFly.

The price target implies nearly 50% upside potential from Uber’s Tuesday closing price.

Analyst Taylor Manley highlighted that the future of autonomous vehicle adoption will play a central role in shaping investor sentiment. Uber Technologies’ stock traded over 1% higher in Wednesday’s premarket. However, on Stocktwits, retail sentiment around the stock remained in ‘bearish’ territory amid ‘low’ message volume levels. 

According to a CNBC report, Guggenheim expects autonomous vehicles (AV) to make up about 20% of the U.S. rideshare market by 2035, with international markets trailing by several years. Uber’s existing demand strength may allow it to benefit disproportionately as AV adoption scales.

“We believe AV debate to remain a key driver of sentiment with bulls highlighting market expansion potential, bears arguing disintermediation risk,” Manley added.

Guggenheim also emphasized that Uber’s Delivery business is entering a phase of renewed momentum. Despite being overshadowed by the company’s core ride-sharing segment, the Delivery business is expected to post sustained double-digit growth, it said. 

The company is scheduled to report third-quarter earnings on November 4. It expects gross bookings in the range of $48.25 billion to $49.75 billion, representing growth of between 17% and 21% year-on-year on a constant currency basis.

Uber Technologies' stock has gained over 58% in 2025 and over 14% in the last 12 months. 

Also See: Microvast Sparks Retail Excitement As Stock Hits 3.5-Year Highs

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