Lyft’s Growth Potential: Buy Rating Backed by Technological Advancements and Strategic Expansions

In a report released today, Ivan Feinseth from Tigress Financial reiterated a Buy rating on Lyft (LYFT – Research Report), with a price target of $28.00.

Ivan Feinseth has given his Buy rating due to a combination of factors that highlight Lyft’s potential for growth and value creation. The company is experiencing increasing growth driven by technological advancements and driver-focused innovations, which include new service offerings and international expansion. The anticipated launch of autonomous services is also expected to serve as a significant catalyst for future growth.
Furthermore, Lyft is seeing an increase in ride volume and implementing service initiatives that, when combined with operational efficiencies and market expansion, are enhancing business performance. This is reflected in the rising return on capital and positive economic profit, which are poised to significantly boost shareholder value. Additionally, Lyft’s investments in AI-driven technologies are improving the rider and driver experience, while advertising efforts are expanding rider connections and generating additional revenue. The acquisition of the European taxi-hailing app FREENOW further supports Lyft’s international growth strategy.

In another report released on May 13, RBC Capital also maintained a Buy rating on the stock with a $21.00 price target.