Uber Technologies (NYSE: UBER) took its investors on a lucrative little ride Tuesday, as its share price accelerated more than 4% higher. This came after an analyst reminded the market that the stock is a No. 1 pick of his in its category for 2023. 

Early this morning, Roth MKM's Rohit Kulkarni put a little fuel injection into his Uber price target. He significantly increased it to $59 per share from the previous $46. He maintained his buy recommendation as he did so. 

The foundation of this is the analyst's new profitability estimates for both full-year 2023 and 2024. Kulkarni has raised his forecasts for earnings before interest, taxes, depreciation, and amortization (EBITDA) and earnings per share (EPS) by 15% for the two years.

Continue reading

Source Fool.com