Uber targets $120bn valuation for 2019 flotation – report

Valuation would make ride-hailing app worth more than three times as much as Ford

Uber could target a valuation of $120bn (91bn) in a stock market flotation planned for next year, according to reports in the US, after Wall Street banks advised the ride-hailing app that it was worth more than three times that of the carmarker Ford.

The ride-hailing app, which has never made a profit, has said it wants to list shares on the New York stock market next year in what is likely to be the most eagerly awaited listing of 2019.