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Wedbush positive on 'best idea' Uber's earnings

|About: Uber Technologies, Inc. (UBER)|By: , SA News Editor

Wedbush names Uber (NYSE:UBER) as a "best idea" ahead of the Q4 report on February 6.

The firm sees the quarter as an "important first step forward" with better than expected Q4 earnings and 2020 guidance.

Wedbush was encouraged by the recent sale of the India food delivery business, which could be a sign that Uber will take further steps to shape/rationalize the "business segment into an important part of the Uber flywheel rather than the overhang it represents today on the stock."

Wedbush maintains an Outperform rating on Uber and raises the target by $5 to $50. The company has a Bullish average Sell Side rating.

Uber shares are up 3% to $37.40.