Uber Analysts Unfazed By Tesla's CyberCab Reveal, Eye Stronger AV Position

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BofA Securities: ‘Less Near-Term Tesla Overhang‘

BofA Securities analyst Justin Post reiterated his Buy rating on Uber with a price target of $88, highlighting that Tesla's event was less of a disruptive force for Uber than anticipated.

Post noted that Tesla’s CyberCab, a robotaxi designed without a steering wheel or pedals, could potentially lower transportation costs to 30 cents to 40 cents per mile, far below Uber's current driver cost of over $2 per mile.

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Article Details

Author / Journalist: Surbhi Jain

Category: Technology

Markets: United States

Topics: US88160R1014 Tech Analyst Ratings TSLA Benzinga Cybercab KeyProj Trading Ideas Top Stories UBER Analyst Color Long Ideas Stories That Matter Mobility Robovan Expert Ideas

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-11 @ 19:47:49 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 481 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23000908

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