UK competition headlines may be worse than real Uber threat, says Morgan Stanley. Morgan Stanley analyst Brian Nowak noted recent press reports indicating that Eastern European-based ridesharing company Bolt launched in London this week and that India-based ridesharing player Ola plans a London launch by the end of the year. The London market is believed to be a high-margin territory for Uber, but the "headlines may be worse than the reality of the threat," said Nowak, who questions how long the competitors may be willing and able to fund a market share battle there. However, if a market share battle does ensue, it is a risk to Uber, said Nowak, who recommends watching app user data to see if consumers adopt the new entrants and, if so, how quickly. For now, he keeps an Overweight rating and $56 price target on Uber shares.
