Uber Shares Slide Amid Price Target Cut and Regulatory Headwinds
Uber Technologies Inc. shares fell 5.6% after Morgan Stanley trimmed its price target to $110 while maintaining an Overweight rating. The MOVE coincides with the ride-hailing giant scaling back EV driver incentives—a retreat from earlier climate commitments that signals shifting priorities.
European operations face mounting pressure as 1,500 taxi drivers blockaded Barcelona streets this week. Similar protests erupted in Britain's Cotswolds and Halifax, reflecting growing regulatory friction. Meanwhile, analysts flag emerging competition from Waymo and Tesla's autonomous vehicle platforms as structural risks.
Despite trading 16.9% below its 52-week peak, Uber remains up 31.7% year-to-date. The stock closed at $83.18 as investors weighed cost-cutting measures against growth prospects in evolving mobility markets.
