Piper Sandler calls Uber a 'sleeping giant,' hikes price target

Piper Sandler has raised its price target on Uber (UBER) from $86 to $88, calling the rideshare company a "sleeping giant" in its latest note.
Piper Sandler Senior Research Analyst Tom Champion joins Catalysts to give insight to his call and why he is bullish on Uber.

Champion claims that his excitement for Uber comes from its potential to grow in using advertising to target users like Amazon (AMZN) has done previously:

"I think the way to frame this is we've seen, over the last 6 or 8 years, Amazon build this gigantic advertising juggernaut. And a lot of this is done through sponsored listings. The ability of Amazon merchants to advertise and promote their goods. And we believe that in all transaction platforms, there exists this promotional advertising opportunity in the gig economy space... with Uber's scale, which really kind of dwarfs the rest of the space, the future looks very interesting."

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