Lyft price target lowered to $15 from $16 at Canaccord

Canaccord lowered the firm’s price target on Lyft (LYFT) to $15 from $16 and keeps a Hold rating on the shares following the Q1 report. The company “faces a Herculean climb to reach its 2027 targets,” the analyst tells investors in a research note. The firm also believes the “robotaxi revolution is a structural threat” to Lyft’s long-term profitability. Canaccord cites the “disruptive nature” of Lyft’s robotaxi transition for the target cut.