BofA lowered the firm’s price target on DoorDash (DASH) to $230 from $235 and keeps a Buy rating on the shares after the company reported a slight Q1 beat, gave “strong” Q2 guidance and announced multiple acquisitions, including a final Deliveroo agreement. The firm, which likes the acquisitions driving a substantial increase in scale, attractive new markets, new service capabilities, and an implied multiple well below DoorDash’s current multiple, lowers its price target by $5 on reduced take rates.
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