Lyft price target raised to $16 from $14 at JPMorgan

JPMorgan raised the firm’s price target on Lyft (LYFT) to $16 from $14 and keeps a Neutral rating on the shares following the earnings report. Lyft continues to execute well, and saw improving marketplace trends with record driver hours and the highest ever weekly rides level in the last week of March, the analyst tells investors in a research note. The firm says the company is executing well.