Lyft

Lyft a ‘Stable Duopoly’ With Potential for DoorDash Partnership, RBC Says

/ / Consumer Discretionary /

Lyft (LYFT) is a “stable duopoly” with a potential for a DoorDash (DASH) partnership, RBC Capital Markets said in a note to clients Monday. The investment firm upgraded Lyft’s rating to outperform from sector perform and raised its price target to $23 from $17. RBC said its latest driver supply analysis points to a “stable duopoly” compared with the past two years, which showed Uber (UBER) “flexing its structural advantage.” “The improved execution of Lyft’s core business is foundational to our thesis in that it allows it to build scale and marketplace efficiency to grow down-market products which drive elasticity and gives any potential partners greater confidence in being a sustainable competitor longer term,” RBC analysts said. A partnership with DoorDash “makes enormous sense and becomes more probable,” RBC said. The analysts estimate mid-single-digit to mid-teens of additional orders is possible, along with a 22% revenue or rides headwind, which […]

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Lyft’s Stock Soars On Stellar Q4 Results: Analysts Range From Cautious To Optimistic

/ / Consumer Discretionary /

Shares of Lyft Inc (NASDAQ:LYFT) climbed in early trading on Wednesday, after the company reported upbeat results for the fourth quarter. The results came amid an exciting earnings season. Here are some key analyst takeaways from the release. Truist Securities On Lyft Analyst Youssef Squali maintained a Hold rating, while raising the price target from $13 to $15. “Lyft’s strategy early last year to lean in on pricing, on the customer experience and on product improvements as competitive differentiators bore fruit in 4Q23, with results showing accelerating growth in rides & rides’ frequency,” Squali wrote in a note. “A healthier marketplace and sustained momentum QTD bodes well for 1Q, driving higher than expected guidance, while directional 2024 commentary reflects a better growth outlook,” he added. Piper Sandler On Lyft Analyst Alexander Potter reiterated an Overweight rating, while lifting the price target from $14 to $17. Lyft reported gross bookings of $3.72 billion for

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Deutsche Bank raised Lyft (NASDAQ:LYFT) price target to $12 from $11

/ / Consumer Discretionary / ,

Deutsche Bank analyst Benjamin Black raised Uber’s (NYSE:UBER) price target to $44 from $42 and maintained a “buy” rating. The analyst also raised its price target on Lyft (NASDAQ:LYFT) to $12 from $11 and maintained a “hold” rating. An appeals court in California overturned a lower court’s ruling on March 13, local time, finding that Uber and Lyft had the right to treat their drivers as independent contractors.

Deutsche Bank raised Lyft (NASDAQ:LYFT) price target to $12 from $11 Read Post »

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