Goldman Sachs Analyst Sees 60% Upside In Uber, 28% In Lyft

Goldman Sachs analyst Eric Sheridan initiated coverage of the U.S. internet sector with a "selectively positive view."
Sheridan rated Uber Technologies UBER with a Buy and $64 price target, implying a 60.4% upside.
Sheridan also initiated coverage on Lyft Inc LYFT, with a Buy and $64 price target, suggesting a 28% upside.
The analyst initiated coverage of Facebook Inc FB with a Buy rating and $455 price target, signifying a 20.2% upside.
Sheridan initiated coverage of Snap Inc SNAP with a Buy rating and $90 price target, suggesting a 20.8% upside.
Sheridan initiated coverage of Pinterest PINS with a Neutral rating and $57 price target, implying a 5.1% upside.
Sheridan noted that the industry still has "ample opportunities" for secular revenue growth and increased operating efficiencies on the back of building scale in the coming years.
The analyst sees Uber as the "next large-cap platform ecosystem" in his coverage universe, given its user and economic capture scale around a common theme of local transportation and e-commerce.
Price Action: LYFT shares traded higher by 3.44% at $51.73, and UBER shares traded higher by 2.12% at $40.74 in the market session on the last check Monday.