Berenberg Lifts Delivery Hero Price Target Amid Uber Takeover Bid; Buy Rating Kept

06:49 AM EDT, 07/17/2026 (MT Newswires) -- Berenberg increased its price target for Delivery Hero (DHER.F) to reflect a valuation change after Uber Technologies (UT8.F, UBER.VI) commenced its "long-awaited" voluntary takeover bid for the food delivery company. "Although Uber faces the risk of antitrust measures, we would not rule out that Uber will be willing to improve terms if shareholder acceptance is lower than expected, as taking full control at an early stage would allow fast generation of desired synergies. Consequently, we now value Delivery Hero on the basis of a SOTP model, to reflect the takeover offer. As such, we raise our price target to EUR41.50 [from EUR40]," analysts wrote in a Friday note. Citing talks with long-term Delivery Hero investors, Berenberg said "only a few" intend to tender their shares below a 45-euro per share price. "If Uber wants to reach full control fast, the current offer may need to be improved," the research firm added. Against this backdrop, the research firm maintained its buy rating on the stock.