DoorDash price target raised to $340 from $326 at Truist

Truist raised the firm’s price target on DoorDash (DASH) to $340 from $326 and keeps a Buy rating on the shares. The firm remains constructive on DoorDash heading into Q3 earnings as analysis of the Truist Card Data indicates that growth in U.S. gross order value has tracked slightly ahead of expectations for the quarter and is showing y/y acceleration so far in Q4, the analyst tells investors in a research note. This momentum reflects the management’s solid execution across both restaurants and new verticals with sustained improvements in order growth and average order value amid resilient demand, the firm added.