Lyft price target lowered to $18 from $22 at RBC Capital

RBC Capital lowered the firm’s price target on Lyft (LYFT) to $18 from $22 and keeps an Outperform rating on the shares. The company’s Q1 wasn’t its best where bears will focus on organic growth and rider promotions going the wrong direction, the analyst tells investors in a research note, adding however that this is still a double-digit grower with a path to margin expansion.