Uber Technologies, Inc.

Uber Technologies is rated 'Buy' with a 12-month price target of $85, reflecting confidence in its 2027 earnings trajectory. UBER's Q3 results showed 20% constant currency bookings growth, 38% non-GAAP operating income growth, and a Mobility segment margin at a six-quarter high. Robotaxi and AI disruption risks are acknowledged but seen as long-term, with AVs expected to remain immaterial to UBER's trip volume through 2028.

Uber Technologies remains a compelling buy, with a $100 target price and >43% upside, driven by robust free cash flow and expanding monetization levers. UBER's Delivery segment, especially Uber Eats, is evolving into a 'mini-Amazon,' leveraging grocery/retail expansion, advertising, and Uber One membership synergies for higher retention and LTV. Mobility faces supply headwinds and robotaxi scaling lags peers, but UBER's demand aggregation and superior network utilization underpin defensible unit economics versus AV competitors.

THE AI TRADE HITS THE BRAKES—A Nasdaq correction. A rebound in oil.

During the third quarter, Natera achieved record results. Shares advanced during the quarter as Twilio's voice platform was recognized as a backbone for agentic voice agents. Carpenter Technology is benefiting from increased production rates at Boeing that is driving demand for mission-critical materials and components.