11:15 AM EDT, 07/08/2025 (MT Newswires) -- Uber Technologies ( UBER ) is likely to see accelerated bookings and delivery growth for Q2 based on Bloomberg Second Measure data, as well as potential tax savings for its drivers, BofA Securities said in a Tuesday note.

Data from Bloomberg Second Measure indicates a modest acceleration in bookings growth for Uber ( UBER ), up 140 points versus Q1, while unadjusted mobility and delivery growth accelerated by 150 and 90 basis points, respectively, demonstrating "overall positive growth data, with stable mobility pricing a positive for margins," BofA said.

The "Big Beautiful Bill," with its "No Tax on Tips" provision for 1099 workers like Uber ( UBER ) and Lyft ( LYFT ) drivers, is projected to deliver around 2.5% effective pay bump for Uber ( UBER ) drivers, translating to about $1 billion in tax savings annually, which could indirectly bolster Uber's ( UBER ) take rates by modestly increasing driver supply, according to the note.

Uber ( UBER )-backed autonomous vehicle fleet manager Moove is also reportedly seeking $1.2 billion in financing to acquire and manage Alphabet's (GOOG) Waymo AVs for its expanding partnership, a move seen as critical to Uber's ( UBER ) fleet management and potentially encouraging other manufacturers to invest in advanced AV technology, BofA said.

BofA reiterated a buy rating on Uber ( UBER ), raising its price target to $115 from $97.

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