2023-08-03 22:58:09
Bombardier’s backlog improved slightly in the second quarter. (photo: courtesy)
What to do with the titles of Uber, Pfizer and Bombardier? Here are some recommendations from analysts likely to move prices soon. Note: the author may have a totally different opinion from that expressed.
Uber (UBER, US$46.96): strong forecast supports EBITDA expansion
Chauffeur-driven vehicle booking, meal and package delivery company Uber reported revenue of US$9.23 billion (US$B) and earnings before interest, taxes, depreciation and amortization (EBITDA) of $916 million (US$ million) during the second quarter. While revenues were below analysts’ consensus forecast of US$9.38B, the situation was different for EBITDA, expected at US$845M.
“Revenues from the mobility division were more robust than expected. Those from meal deliveries were in line with expectations, while those related to package delivery missed the target, ”sums up analyst Justin Post of Bank of America.
Total revenue generated by Uber drivers was US$33.6 billion during the quarter, while the consensus was for a figure of US$33.4 billion.
Justin Post also points out that management’s forecast for the third quarter exceeded analysts’ expectations for the number of shipments and EBITDA. “The company expects its drivers to generate revenues between $34B and $35B and an EBITDA of between $975M and $1.03B. The analyst consensus is US$33.9 billion for revenue and US$919 million for EBITDA,” he said.
The analyst maintains that the results reinforce his thesis of an improvement in EBITDA and confirms his recommendation to buy the stock, which slightly increases its target price over one year, from US$51 to US$53. .
He estimates the value of the mobility division at US$61B, compared to US$44B and US$5.5B respectively for meal and package deliveries, giving Uber a valuation of US$110B.
For 2024, Justin Post lowers its revenue forecast, which goes from US$45.3B to US$44B, and reservations revenue (US$160.6B to US$159.9B), but raises its EBITDA forecast, which goes from US$5B to US$5.71B.
Pfizer (PFE, US$35.35): Uncertainty looms
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