Citigroup: Uber's target price lowered to $110, reiterates "buy" rating.

Citibank's research report stated that they are encouraged by Uber's plan to launch self-driving services in 15 cities by the end of the year, which will showcase its hybrid network advantage as each city is gradually advancing. Prior to this, the bank believed that Uber was achieving sustainable growth by establishing lifetime value of users in MAPC and expanding to lower density markets, currently accounting for about 20% of global travel orders, with a growth rate about 1.5 times faster than high density markets. They also expect the number of trips and total bookings in the United States to continue accelerating through 2026. Given the strong fundamentals and increasingly clear self-driving roadmap, Citibank reiterated a "buy" rating on Uber with a target price lowered from $120 to $110.