Mizuho lowered the firm’s price target on Lyft (LYFT) to $16 from $27 and keeps a Neutral rating on the shares. The firm believes the shares are “likely struggle to work near-term.” With the California-driven acceleration slipping to the second half of the year, risk that the autonomous vehicle threat “subsumes the acceleration bull case” for Lyft, the analyst tells investors in a research note.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LYFT:
- Lyft: Vulnerable No. 2 Position and Profit-Focused Strategy Justify Hold Rating Despite Reasonable Valuation
- Lyft’s $1.75 Billion Buyback Plan Raises Questions on Execution, Cash Use, and Investor Confidence
- Lyft Inc. Earnings Call Signals Profitable Growth
- Lyft price target lowered to $17 from $19 at BofA
- Morning Movers: Unity plunges following fourth quarter report