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Fly News Breaks for February 7, 2020
Feb 7, 2020 | 07:48 EDT
Wedbush analyst Ygal Arounian raised his price target for GrubHub to $52 from $50 and maintained an Outperform rating after the company delivered a "solid" quarter in line/exceeding Street expectations across the board. Arounian says Uber's goal to hit profitability by the end of 2020, a full year ahead of its prior forecast, came as a "shocker" as he thought the red ink could disappear "best case mid-2021." The analyst gives Uber and its board major credit for finally listening to investors and putting the brakes on its "1980's Rock Star-like" spending habits.
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