DoorDash price target raised to $270 from $260 at Wedbush

Wedbush raised the firm’s price target on DoorDash (DASH) to $270 from $260 and keeps an Outperform rating on the shares. DoorDash remains a top mobility pick for next year, maintaining a leading position in U.S. food delivery while successfully expanding into new initiatives, the analyst tells investors in a research note. Near-term margin pressure from elevated spending is expected, but these investments are seen as supporting long-term growth and a broader global total addressable market, the firm says.