Why This Investor Says Uber Is One Of The Best Tech Stocks Outside Of FAANG

Uber Technologies UBER was featured as the call of the day Monday on CNBC's "Fast Money Halftime Report."

What Happened: Uber was named as top pick for 2022 by Morgan Stanley. The firm said Uber is one of the best tech stocks outside of FAANG.

Morgan Stanley sees 80% upside from current levels as the company is approaching profitability. 

Morgan Stanley has an Overweight rating on Uber and a price target of $72. 

Sethi's Take: Douglas C. Lane & Associates' Sarat Sethi agrees with the call and he owns the stock, he said Monday on CNBC.

Uber has struggled to find enough drivers to fulfill demand, Sethi said, yet he added the company has great management and should reach profitability by the end of the year.

People are going to use Uber a lot more on the other side of the COVID-19 pandemic, Sethi told CNBC. 

"Uber is in the right space, they've got the right product and I think longer-term this is a stock that is going to do well."

See Also: Uber Analyst: Prop 22 Court Ruling A 'Sentiment Setback'

UBER Price Action: Uber has traded as high as $64.05 and as low as $28.48 over a 52-week period.

At last check Monday, the stock was up 2.38% at $40.90.

Photo: courtesy of Uber.