Lyft price target raised to $20 from $16 at BMO Capital

BMO Capital raised the firm’s price target on Lyft (LYFT) to $20 from $16 and keeps a Market Perform rating on the shares. The company’s Waymo partnership is a “big step in the right direction” and represents a third major autonomous vehicle, AV, deal in the past ten months, the analyst tells investors in a research note. The recent momentum in AV partnerships indicates that the management appreciates the strategic importance of the AV market and intends to close the gap with competitors, the firm added.