20 analysts started coverage of Uber. None of them think the stock is a sell.
But Wall Street thinks this is a buying opportunity for clients. The shares rose 2.8% in premarket trading on the reports. There are now 20 analysts rating Uber and none say to sell the stock, according to"We see Uber as the most attractive Internet IPO since Facebook and believe that concerns related to Uber's profitability outlook pose less risk than Facebook's transition to mobile at that time," Deutsche Bank said. The firm has Uber rated as a buy.
"Uber is a transformational company that should benefit from secular shifts to the sharing economy , time saving services , and more efficient marketplace evolution ," Bank of America said."The growth runway is long for Uber's platform to grow users, and frequency of use across products...and with scale, a path toward profitability."
To be sure, skeptics will say this is just a typical example of Wall Street trying to hype a new issue it wants investors to buy so they can garner future investment banking business. Still it's rare to see such an overwhelmingly bullish crowd on a stock."We see Uber as the most attractive Internet IPO since Facebook and believe that concerns related to Uber's profitability outlook pose less risk than Facebook's tran-sition to mobile at that time.
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