Why Quint Tatro Likes Uber And Lyft

On CNBC’s "Trading Nation," Quint Tatro of Joule Financial said he likes the recent report by UBS on Uber Technologies, Inc. (NYSE: UBER) and Lyft, Inc. (NASDAQ: LYFT).

Tatro commented that Uber is going to see an increase in margins with ride-sharing movement getting back online. For those concerned about spread of new variants, the company has a huge delivery business, which is doing "exceptionally well," he said. Tatro added that he likes both names here.

UBS named Uber a top pick, initiating coverage on the stock with a Buy rating and announcing a price target of $80. UBS also initiated coverage of Lyft with a Buy rating and $60 price target, implying 50.8% upside.

Price Action: Uber shares, which are down around 25% since the start of the year, gained 5.8% to close at $38.12 on Thursday. Shares of Lyft climbed 7.7% to settle at $41.15.