JPMorgan upgraded DoorDash (DASH) to Overweight from Neutral with a price target of $325, up from $175, after reinstating coverage of the name following a period of restriction. DoorDash continues to deliver “industry-leading” growth at scale with improving unit economics, the analyst tells investors in a research note. The firm says Deliveroo is expanding DoorDash’s footprint in Western Europe and the Middle East. JPMorgan believes DoorDash should trade at a premium to Uber.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DASH:
- DoorDash: Strong Market Position and Growth Potential Drive Buy Rating
- Serve Robotics price target raised to $26 from $23 at Northland
- Hidden ‘Doorstep Taxes’ Are Making Amazon and DoorDash Orders Cost More
- Morning News Wrap-Up: Thursday’s Biggest Stock Market Stories!
- Midday Fly By: Delta beats, PepsiCo names new CFO