By Michael Dabaie

Uber Technologies Inc. (UBER) shares rose 5% to $36.97 in midday trading.

Morgan Stanley named the ride-hailing company as its 2020 top U.S. Internet pick.

Morgan Stanley in its 2020 U.S. Internet outlook said there is a still-long runway for ride-sharing and profitability is improving for Uber's rides and Eats food delivery service.

Morgan Stanley said Uber trades 10% below its valuation for ride-sharing alone.

Ride-share company Lyft Inc. (LYFT) was up about 4% to $48.24.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

January 21, 2020 12:44 ET (17:44 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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