Uber is reportedly set to price its IPO at the midpoint of its target or below, giving it a valuation of as much as $86 billion

Uber is set to price its initial public offering at the midpoint of its target range or below, according to a Wednesday report from The Wall Street Journal.

The pricing was influenced by the disappointing stock-market performance of competitor Lyft, according to the report, which cites people familiar with the matter.

Uber has not responded to Business Insider’s request for comment.

This story is developing. Check back for updates.

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