Lyft price target lowered to $17 from $22.50 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Lyft (LYFT) to $17 from $22.50 and keeps an Equal Weight rating on the shares. Rides deceleration suggests Lyft U.S. Rides is growing by a high-single digit percentage, as Uber (UBER) U.S. grows mid-to-high teens, which speaks to Lyft’s challenge to drive durable growth in an increasingly competitive U.S. rideshare market, the analyst tells investors in a post-earnings note.