Bank of America Maintained Buy Rating for Uber

The firm upheld its $101 price target as Uber prepares for intensified competition in the autonomous vehicle space.

Updated on Sept. 21, 2026 in Electric Vehicles

Isometric editorial illustration showing stylized autonomous automotive sensor hardware against a muted teal and cream background. — Bank of America maintained a buy rating for Uber with a $101 price target, highlighting the company's long-term autonomous mobility strategy. AI Illustration. Upload story photo >

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Bank of America has maintained a buy rating and $101 price target on Uber, citing the company's strategic positioning within the growing autonomous mobility sector. The financial outlook is based on a valuation of 23 times the 2027 adjusted earnings per share estimate.

Why it matters

Autonomous vehicle competition represents both a significant long-term risk and a primary development opportunity for the ridesharing industry. The firm is tracking how these shifting technological capabilities may impact future market dominance.

Uber currently holds a 76% share of the U.S. mobility market, which is projected to adjust to 73% by 2028. Partnerships with companies like Nvidia and Rivian provide Uber access to roughly 120,000 autonomous vehicles.

The players

Uber

Uber is a global technology platform that connects consumers with ride-hailing and delivery services.

Bank of America

Bank of America is a multinational financial services firm that provides investment research and banking services.

Nvidia

Nvidia is a technology company that develops graphics processing units and hardware for artificial intelligence.

Waymo

Waymo is an autonomous driving technology company that operates commercial self-driving taxi services.

Tesla

Tesla is an automotive and clean energy company focused on electric vehicles and autonomous driving software.

The details

Uber aims to become the global leader in autonomous trips by 2029 by leveraging a network of partnerships with firms such as Volkswagen, Lucid, Zoox, and WeRide. Meanwhile, rivals including Waymo and Tesla are expected to contribute to a fleet of over 100,000 autonomous vehicles operating in the U.S. by the end of the decade.

2027: Potential for faster autonomous vehicle deployments is anticipated.
2028: Autonomous vehicle partnerships for Uber and Lyft are expected to begin scaling.
2029: A sharper acceleration in autonomous vehicle deployment is projected.

Market Landscape

The ridesharing sector is currently locked in an arms race to dominate the emerging autonomous transit market through strategic hardware and software partnerships. This transition shifts the industry focus from human-driven labor models to technology-driven autonomous fleet management.

The expansion of autonomous fleets is poised to create a competitive market where rivals like Waymo and Tesla target $6 billion in bookings by 2028. For the average rider, this shift aims to eventually increase trip availability and potentially alter pricing structures through scaled autonomous operations.

The takeaway

The race to scale autonomous fleets will likely define the long-term viability and market share of major ridesharing platforms. Investors and users should monitor how these 100,000-plus projected vehicles alter the accessibility of transit in the coming years.