Morgan Stanley raised the firm’s price target on Lyft (LYFT) to $20.50 from $19 and keeps an Equal Weight rating on the shares after updating the firm’s model for Q2 results, Q3 guidance and the acquisition of Freenow. The stock is “inexpensive,” but the firm prefers Uber (UBER) for more scale, its ability to invest for growth and less AV risk, the analyst tells investors.
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