Wall Street Analysts Are More Bullish About Lyft and Uber. Here's Why.

Some Wall Street analysts are more bullish on rideshare giants Uber (UBER) and Lyft (LYFT). 

In Lyft’s case, it was the team at Oppenheimer, which late yesterday boosted its price target by $3 to $20, above the average near $17 compiled by Visible Alpha and just $1 off the Street high. As for Uber Technologies, Bank of America on Tuesday boosted its target to $115 from $97, above the roughly $98 mean but a bit off the $120 high.

Oppenheimer sees Tesla’s (TSLA) robotaxi launch as “disappointing,” which it said supports optimism about the rideshare business. 

“The bear thesis that robotaxi will subvert rideshare marketplace demand has been firmly halted,” Oppenheimer said. “Additionally, consumer demand and the competitive outlook remains unchanged since [first-quarter] earnings, suggesting a healthy [second quarter/second half] backdrop for rideshare.”

Lyft in May said first-quarter revenue rose 14% year-over-year. Its shares were recently up nearly 2% to above $16, leaving them up close to 27% in 2025.

Bank of America cited a higher multiple for projected free cash flow at Uber, noting optimism about the company’s position in autonomous vehicles as well as growing bookings and “subscriber lock in,” as evidenced by its Uber One offering. The company also said first-quarter revenue grew 14% year-over-year. 

Uber’s shares, which ticked 1% lower in early Tuesday trading, are up roughly 60% this year at around $96 apiece.