[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  DonCorleone77 [@CorleoneDon77](/creator/twitter/CorleoneDon77) on x 5289 followers Created: 2025-07-17 00:36:15 UTC $UBER Attached is page X of a 5-page Bank of America analyst report on UBER issued yesterday entitled: "AV deals continue to ramp, adding Baidu’s Apollo Go" Bank of America has a 'Buy' rating on UBER with a $XXX price target. Bank of America's summary statement regarding UBER in the report includes the following: "Uber & Baidu announce long-term strategic partnership: Today, Uber & Baidu announced a multi-year strategic partnership to deploy “thousands” of Baidu’s Apollo Go AVs on the Uber platform across “multiple global markets” outside of the US and mainland China, with the first market launches in Asia & Middle Eastern markets this year, and Europe likely to follow. Apollo Go operates in XX cities with a fleet of 1,000+ AVs, and has provided over 11mn AV rides to the public since inception. In 1Q’25, Apollo Go conducted 1.4mn rides, with XX% Y/Y Rides growth (accelerating from XX% Y/Y in 4Q). In our view, Abu Dhabi & Dubai will become near-term focus markets for the Street, with Uber already providing WeRide AV Rides in those markets. What is Baidu’s Apollo Go service? Baidu mgmt has invested in the AV space for XX years, and in 2022, Apollo Go became the first service to receive approval to provide AV rides in China, albeit with a safety monitor in the passenger seat. Apollo Go conducted 10mn rides with a safety passenger before gaining approval for full L4 AV rides in February 2025 (no safety driver or passenger). The service now operates in XX cities, including Dubai and Abu Dhabi (launched in March 2025), as well as legacy China markets like Beijing, Shanghai, and Shenzen. Baidu has also obtained permission to begin testing rides in Hong Kong (only AV provider testing there). In 1Q’25 earnings (5/21/25), Baidu mgmt. noted Apollo Go is now “ready to enter into any city worldwide as long as regulators and conditions allow”. -- Price Objective Basis: Our $XXX PO is based on a 24x 2026E FCF multiple. We think a 24x multiple is reasonable vs. the FANG average (per Bloomberg) of 32x given Uber's strong 2026E EBITDA growth outlook of XX% vs. the FANG average of 18%, offset by long-term AV uncertainty. We think, if stock sentiment could shift from AV competitive concerns to AV market expansion opportunities, Uber's FCF multiple could increase to the mid-to-high 20s. Our $XXX PO would represent 22x 2026 EV/EBITDA and 34x GAAP earnings, and we think some premium vs the FANG group is warranted on these valuation metrics due to Uber's lower capex and faster growth expectations for 2026. -- Downside risks are: 1) multiple compression given macro economic exposure, 2) slowing user & revenue growth due to competitive initiatives from peers, 3) new competition from self-driving technology companies, and 4) new regulations, fees, and/or minimum wages." (Page X is not available here as X does not allow me to post pages from reports on this platform) XXX engagements  **Related Topics** [longterm](/topic/longterm) [$9888hk](/topic/$9888hk) [baidu](/topic/baidu) [united states](/topic/united-states) [bank of](/topic/bank-of) [$uber](/topic/$uber) [stocks technology](/topic/stocks-technology) [bank of america](/topic/bank-of-america) [Post Link](https://x.com/CorleoneDon77/status/1945643675817505019)
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DonCorleone77 @CorleoneDon77 on x 5289 followers
Created: 2025-07-17 00:36:15 UTC
$UBER
Attached is page X of a 5-page Bank of America analyst report on UBER issued yesterday entitled:
"AV deals continue to ramp, adding Baidu’s Apollo Go"
Bank of America has a 'Buy' rating on UBER with a $XXX price target.
Bank of America's summary statement regarding UBER in the report includes the following:
"Uber & Baidu announce long-term strategic partnership:
Today, Uber & Baidu announced a multi-year strategic partnership to deploy “thousands” of Baidu’s Apollo Go AVs on the Uber platform across “multiple global markets” outside of the US and mainland China, with the first market launches in Asia & Middle Eastern markets this year, and Europe likely to follow.
Apollo Go operates in XX cities with a fleet of 1,000+ AVs, and has provided over 11mn AV rides to the public since inception. In 1Q’25, Apollo Go conducted 1.4mn rides, with XX% Y/Y Rides growth (accelerating from XX% Y/Y in 4Q). In our view, Abu Dhabi & Dubai will become near-term focus markets for the Street, with Uber already providing WeRide AV Rides in those markets.
What is Baidu’s Apollo Go service?
Baidu mgmt has invested in the AV space for XX years, and in 2022, Apollo Go became the first service to receive approval to provide AV rides in China, albeit with a safety monitor in the passenger seat. Apollo Go conducted 10mn rides with a safety passenger before gaining approval for full L4 AV rides in February 2025 (no safety driver or passenger).
The service now operates in XX cities, including Dubai and Abu Dhabi (launched in March 2025), as well as legacy China markets like Beijing, Shanghai, and Shenzen. Baidu has also obtained permission to begin testing rides in Hong Kong (only AV provider testing there). In 1Q’25 earnings (5/21/25), Baidu mgmt. noted Apollo Go is now “ready to enter into any city worldwide as long as regulators and conditions allow”.
-- Price Objective Basis:
Our $XXX PO is based on a 24x 2026E FCF multiple. We think a 24x multiple is reasonable vs. the FANG average (per Bloomberg) of 32x given Uber's strong 2026E EBITDA growth outlook of XX% vs. the FANG average of 18%, offset by long-term AV uncertainty.
We think, if stock sentiment could shift from AV competitive concerns to AV market expansion opportunities, Uber's FCF multiple could increase to the mid-to-high 20s. Our $XXX PO would represent 22x 2026 EV/EBITDA and 34x GAAP earnings, and we think some premium vs the FANG group is warranted on these valuation metrics due to Uber's lower capex and faster growth expectations for 2026.
-- Downside risks are:
- multiple compression given macro economic exposure,
- slowing user & revenue growth due to competitive initiatives from peers,
- new competition from self-driving technology companies, and
- new regulations, fees, and/or minimum wages."
(Page X is not available here as X does not allow me to post pages from reports on this platform)
XXX engagements
Related Topics longterm $9888hk baidu united states bank of $uber stocks technology bank of america