Wells Fargo Raises Price Target on Billion-Dollar Company, Forecasts Firm’s Stock Will Soar by 52%: Report

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Wells Fargo is updating its outlook on Uber (UBER), reportedly forecasting an explosive share price for the $173 billion ride-hailing company. In a new note to clients, Wells Fargo’s Ken Gawrelski and other analysts raise Uber’s price target to $100 from $90 and reiterate an overweight rating, reports Barron’s. The analysts also say Uber’s share price may rise to as high as $126, a more than 52% increase from the stock’s $82.81 close on Friday, as competition is likely to drive company efficienc...