Lyft price target raised to $14 from $12 at UBS

UBS analyst Stephen Ju raised the firm’s price target on Lyft (LYFT) to $14 from $12 and keeps a Neutral rating on the shares. The company continues to drive both frequency and riders ahead of expectations, which gives UBS more comfort around underwriting the higher gross bookings accretion, the analyst tells investors in a research note. At the same time, the firm says that some of Lyft’s more recent product innovations will likely at some point be commoditized as Uber (UBER) replicates them and is not sure whether Lyft can fully offset the impact of the loss of the Delta (DAL) partnership.