Shares of Uber are likely to rise in the future as the battered ride-sharing giant’s recovery continues, according to Raymond James. Analyst Aaron Kessler upgraded Uber to outperform the market, noting that the company’s ride-hailing continues to show strong signs of recovery and the stock could rally from here. . The company also sets a $38 price target for the stock, implying a potential 30% upside in the future. On Tuesday, the company reported another big loss in the recent period but posted strong revenue and a 57% increase in mobile bookings year-over-year. “Uber is demonstrating strong EBITDA leverage from recovering volume as well as increasing operational efficiency,” Kessler wrote, adding that the stock looks attractive. The shipping company’s stock is down 30% this year but is up nearly 25% this week alone. Uber expects the mobility service’s recovery to continue into the second half of 2022, which will benefit the company going forward, Kessler said. He added that delivery bookings, up just 12 percent year-on-year, can be attributed to an increase in membership. Kessler writes: “Members are generating 2.7x more total bookings than non-members. “We believe increasing membership will also help drive long-term growth for distribution.” – Michael Bloom of CNBC contributed reporting.