Citizens reiterated its Market Outperform rating on Uber Inc. (NYSE: UBER) on Monday, maintaining a $100 price target unchanged from its prior assessment.
The brokerage cited Nevada’s Transportation Authority for approving three commercial robotaxi permits, including allocations for Tesla, Waymo and Uber. Tesla received approval for up to 5,000 vehicles, while Waymo and Uber were each granted permits for 1,000 vehicles, covering operations through Motional and Zoox. The approvals follow Nevada’s decision to allow commercial deployment of autonomous vehicles, signaling regulatory progress in the sector.
Uber’s stock, trading at $78.80, remains below InvestingPro’s Fair Value estimate. The company’s market capitalization stands at $160.95 billion. Mizuho also maintained an Outperform rating on Uber with a $112 price target.
In Europe, Uber launched its first autonomous service in Zagreb, Croatia, marking the continent’s inaugural commercial deployment of self-driving vehicles via the Uber app. The service operates in partnership with Pony.ai, which supplies the autonomous driving technology, and Verne, a Croatian startup managing the fleet. Pony.ai plans to expand its robotaxi fleet to more than 2,000 vehicles across Europe, with operations extending beyond Zagreb to four additional cities, though specific locations and timelines were not disclosed.
Citizens expects autonomous vehicle supply on Uber’s platform to materially increase starting in the fourth quarter of 2026, with continued growth projected through 2027.
