11:09 AM EDT, 11/01/2024 (MT Newswires) -- Uber Technologies' ( UBER ) Q3 had some minor issues, pressuring the stock of the ride-hailing company, but the recent dip is a buying opportunity, RBC Capital Markets said in a note Thursday.

Analysts, including Brad Erickson, said that the combination of a small miss in mobility and a controversial discussion about autonomous vehicles, or AV, likely triggered some quick selling, which they see as a buying opportunity. The analysts added that while they acknowledge the arguments about the long-term value of AVs, they still prefer Uber's ( UBER ) strategy compared to a first-party model.

Bulls liked mobility bookings growth, delivery performance, UBER One growth, and continued strong financial performance, while bears liked mobility miss and AV concerns, mobility metrics, and Lyft (LYFT) and DoorDash (DASH) partnership, the analysts said.

RBC adjusted its price target on Uber ( UBER ) to $82 from $80 while maintaining its outperform rating.

Price: 73.64, Change: +1.59, Percent Change: +2.21