Goldman upgrades Lyft to Buy after earnings, sees ‘compelling risk/reward’

As previously reported, Goldman Sachs analyst Eric Sheridan upgraded Lyft (LYFT) to Buy from Neutral with a $20 price target following the company’s Q1 earnings report. While short-term debates will likely stay rooted in industry trends around rideshare pricing, market share fluctuations, positioning against the autonomous vehicle theme and/or any changes in consumer discretionary behavior, the firm sees strong execution in a stable industry backdrop for Lyft and believes that shares are dislocated from the company’s earnings power in the next two to three years, the analyst tells investors.