Grocers push back on DoorDash's Instacart deal

Impact · against what's priced in

The news is largely a wash for DoorDash and Instacart as the market has already factored in competitive friction and retailer pushback. However, it provides a concrete catalyst for Uber, as retailer flight from the DoorDash-Instacart merger directly supports the growth acceleration that the current price currently declines to believe in.

UBER+0.40

Challenges what's priced in

The price assumes

sustained high-teens revenue growth