Commenting on Uber's London operating license that is expiring later this month, Evercore ISI analyst Benjamin Black says this year's renewal should go ahead as planned given the company's revamped senior management team, improved corporate governance, upgraded safety features, stringent driver background checks, and growing willingness to not only cooperate, but also collaborate with TfL authorities. The only question for the analyst is the duration of the license. Even in the unlikely event of an unfavorable ruling, Black would expect Uber to challenge the decision in court. He has an Outperform rating on the shares.

Tigress Financial raised the firm's price target on Uber to $96 from $72 and keeps a Buy rating on the shares. The firm sees Uber using its dominant position in both ridesharing and delivery to drive user growth and use frequency, which leads it to see strong projected booking growth trends over the next three years. The firm, which also noted that Uber announced its first-ever share repurchase authorization of $7B following its first profitable year, points out that its raised target represents a potential return of 35% from current levels.

As previously reported, Loop Capital analyst Rob Sanderson initiated coverage of Instacart (CART) with a Buy rating and $46 price target. The firm is positive on the company's wide-margin leadership position in grocery delivery in the U.S. which has also been "gaining share". While competition from restaurant delivery networks DoorDash (DASH) and Uber (UBER) have been gaining traction with convenience and "top-up" items, they have not cracked the weekly shop use case, the analyst tells investors in a research note. Loop adds that the stock is trading at an "attractive" 40% discount to the average of gig-economy peers on 2025 EBITDA.

Serve Robotics (SERV), an autonomous sidewalk delivery company, announced the pricing of its underwritten public offering of 10,000,000 shares of common stock at a price to the public of $4.00 per share, for aggregate gross proceeds of $40 million, prior to deducting underwriting discounts and offering expenses. The offering includes the participation of one of Serve's largest stockholders and strategic partners, Postmates, LLC, a wholly-owned subsidiary of Uber Technologies Inc (UBER). Serve plans to use net proceeds from the offering to fund research and development of the next generations of Serve's robots, manufacturing activities, geographic expansion, and for working capital and other general corporate purposes. Aegis Capital Corp. is acting as the sole book-running manager for the offering.