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Barclays makes the case for an Uber stock ‘double’

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Uber CEO Dara Khosrowshahi arrives at the New York Stock Exchange as his company makes its initial public offering, Friday, May 10, 2019.

Richard Drew | AP

Uber’s stock is trading well below the price it debuted at earlier this year but Barclays made the case for how the ride-hailing company will soon turn its stock around, in a note to investors on Friday titled “How Uber can double.”

Shares of Uber have dropped more than 38% from where they began trading in May, closing Thursday at $25.99 a share.

“We think that Uber is one major announcement away from a positive narrative change heading into 2020, and we think getting involved ahead of rationalization of the Eats losses makes sense,”…



Source cnbc.com

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