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Uber is a top reopening trade with bookings expected to pop 24% this year, Jefferies says

Uber CEO Dara Khosrowshahi speaks at a product launch event in San Francisco, California on September 26, 2019.
Philip Pacheco | AFP via Getty Images

Uber is one of the best reopening trades available as the rollout of Covid-19 vaccines sparks a rebound in bookings and as it cements a leading position in the delivery market, according to Jefferies.

Analyst Brent Thill told clients in a note published Thursday that Uber is "one of our top internet picks for vaccine-driven economic re-openings." He predicts significant gains for the stock over the next 12 months.

The company's shares rose more than 4% following the Jefferies recommendation.

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