Argus analyst Taylor Conrad lowered the firm’s price target on DoorDash (DASH) to $260 from $275 but keeps a Buy rating on the shares. The firm remains positive on the company’s strong balance sheet and expanded focus on grocery delivery, which is expected to grow at more than twice the rate of meal delivery, adding that it also likes its efforts to lower unit costs, the analyst tells investors in a research note. The strategy will be key to helping DoorDash become more profitable, the firm added.
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