DoorDash gas price relief program ‘the right move,’ says BofA

After DoorDash (DASH) announced an emergency fuel-relief program aimed at offsetting rising gas costs for delivery drivers, BofA called the relief program “the right move to maintain a healthy relationship with Dashers and protect longer-term Dasher supply.” The firm, which adds that it “would not be surprised” if companies like Uber (UBER) and Instacart (CART) launch similar programs in delivery, also notes that gig economy companies are in a better driver supply position than in 2022 and could hold off on fuel related programs or price changes. The firm maintains a Buy rating and $272 price target on DoorDash shares.