Uber to acquire Turkey's Getir delivery business; shares slip

Uber Technologies Inc UBER.N said it agreed to acquire the delivery business of Turkey's Getir, with its shares slipping 1% to $74 on Mon

The co will pay $335 mln in cash for Getir's delivery arm and will also invest $100 mln to acquire 15% of Getir's other services, per an SEC filing

Uber aims to combine elements of Getir with its earlier Turkish acquisition, Trendyol GO, to support growth in the market

Last week, the ridesharing firm forecasted Q1 adj profit below consensus as it pushes its capital-intensive, early-stage robotaxi strategy

With the moves on Mon, stock has fallen about 9% YTD, vs a ~1.5% rise in the S&P 500 .SPX, and is ~27% below its record intraday high of $101.99 hit in Sept

Avg rating of 55 analysts covering the stock is "buy", per LSEG; median PT of $105.50 implies ~43% upside from current levels