27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Uber Technologies won’t list on the NYSE until next week, but it’s already scoring advocates.
The Rating
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Wedbush analysts Daniel Ives and Strecker Backe initiated with an Outperform rating on Uber and a $47 price target.
The Thesis
To Wedbush, Uber is the Amazon.com, Inc. (NASDAQ:AMZN) of the $5.7-trillion global rideshare industry.
“The ridesharing industry has become one of the most transformational growth sectors of the global consumer market over the past five years with Uber establishing itself as the clear #1 player and in our opinion is paving a similar road to what Amazon did to transform retail/ecommerce and Facebook did for social media,” Ives and Backe wrote in a note.
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The company’s brand loyalty as well as its position in third-party food delivery, freight and logistics, bikes and scooters bolster the analysts’ bullishness. Uber appears poised to expand its platform with various monetization methods, including last-mile multimodal trips.
And its core business, alone, proves promising.
“The disruptive dynamic that Uber and the ridesharing phenomenon has had on the taxi industry is clearly evident from the price of NYC taxi medallions going from about $1 million to now $200,000 as we expect the ridesharing industry to grow 4x more than the US taxi/limousine market over the next decade based on our analysis,” Wedbush wrote.
Uber has grown globally to offset declines in its U.S. market share.
Wedbush holds a Neutral rating and $80 price target on competitor Lyft Inc (NASDAQ:LYFT).
Related Links:
Risk And Reform: A Peek At Uber's Pre-IPO Roadshow
Lyft Analysts Largely Bullish As Quiet Period Ends
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.