Wall Street analysts from major banks initiated coverage on Uber on Tuesday.
But Wall Street thinks this is a buying opportunity for clients. The shares rose 2.8% in premarket trading on the reports.
"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.
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