Guggenheim starts Lyft at Buy, says recent partnerships bolster confidence

Guggenheim initiated coverage of Lyft (LYFT) with a Buy rating and $22 price target as part of a broader research note on Rideshare / Delivery names. The analyst sees Uber (UBER) as relatively better positioned for increased AV adoption, but also notes that the recent Lyft partnerships bolster the firm’s confidence in its bullish thesis that multiple platforms will participate in the ecosystem.