Arete analyst Oliver Lester upgraded Lyft (LYFT) to Neutral from Sell with a price target of $20, up from $10. While Lyft lacks the number of autonomous vehicle partnerships that Uber currently has, it may be able to onboard Amazon’s (AMZN) Zoox in 2026, the analyst tells investors in a research note. Meanwhile, the firm believes Lyft’s free cash flow from insurance reserves will fund increased share buybacks and support the stock price. FreeNow should increase the company’s gross bookings by 2027, Arete adds.
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