BUZZ-BofA cuts Uber PT on rising forex pressure, insurance costs
** BofA Global Research cuts PT on Uber UBER.N to $93 from $96, citing foreign exchange pressure and rising auto insurance costs
** Brokerage says FX rates have improved from the peak of U.S. dollar appreciation but remain a significant headwind
** "We would expect Uber to try to pass this through to consumers, but the market may be less receptive given already large increases to high insurance-cost states like California and New Jersey in 2024," brokerage says
** Brokerage says a potential labor market squeeze from President Donald Trump's immigration policies may also weigh
** New PT represents 35.2% upside to stock's last close
** Uber, set to release its Q4 earnings next week, has beat adjusted EPS estimates for the last two quarters
** 49 of 56 brokerages rate stock "buy" or higher, and 7 "hold"; median PT is $90 - LSEG data
** Stock fell 2% in 2024, compared with a 23% increase in S&P 500 index .SPX
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