Uber (UBER) Partners with Amazon's Zoox for Autonomous Ride Expansion [Yahoo! Finance]
Bank of America Corporation (BAC)
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Source: Yahoo! Finance
partnership with Zoox, Amazon's autonomous vehicle division, BofA Securities reiterated a Buy rating and a $103 price target for the company on March 11. The deployment is anticipated for Las Vegas in the summer of 2026 and Los Angeles in mid-2027. BofA expects Zoox to cover insurance and fleet costs, with rider pricing expected to be comparable to or higher than UberX prices, given its higher-end autonomous-vehicle experience. On the other hand, the firm anticipates Uber's take rate on Zoox journeys to be lower than UberX, considering the partnership's relevance to Uber Technologies, Inc. (NYSE:UBER) and its pricing model shift that lowers Uber's insurance load. That said, BofA expects Zoox's contribution will have little influence on Uber's total take rates and profitability through the end of 2027. Uber Technologies, Inc. (NYSE:UBER) is a prominent global supplier of ride-hailing, food delivery, and freight services. Since its inception, the company has revolutionized urban t
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