Uber Sets IPO Valuation at $91.5 Billion

Uber Technologies Inc. has set a relatively modest $80.5 billion-$91.5 billion valuation for its initial public offering, a reflection of investor skepticism about the ability of the ride-share service to turn a profit.

In a regulatory filing, Uber set a target range of $44-$50 for its shares. The company aims to begin trading on the New York Stock Exchange on May 10.

Last year, investment bankers predicted Uber IPO could fetch $120 billion. But analysts note that rival Lyft Inc. shares have skidded more than 20% since that company’s $24.3 billion floated one month ago.