Truist analyst Youssef Squali lowered the firm’s price target on Lyft (LYFT) to $15 from $18 and keeps a Hold rating on the shares. The firm is reducing its estimates below consensus expectations to better reflect the impact of winter storm Hernando, in addition to better capturing the impact of free now on Lyft’s consolidated take rate, the analyst tells investors in a research note. Truist adds it is baking in some additional conservatism around margins given rising fuel costs and Lyft’s introduction of a gas relief program for its drivers.
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