UBS raised the firm’s price target on Lyft (LYFT) to $21 from $15 and keeps a Neutral rating on the shares. Food delivery demand remains resilient post-COVID, with convenience driving stronger-than-expected stickiness and medium-term growth, the analyst tells investors in a research note. Competitive intensity may rise as Deliveroo (DROOF) gains backing and Amazon (AMZN) expands same-day grocery delivery, while slower robotaxi adoption gives Uber (UBER) and Lyft more room to grow profits near-term, UBS says.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LYFT:
- Amazon Stock (AMZN) Holds Flat as Cloud Glitch Hits Snapchat, Coinbase, Others
- Is Lyft a Golden Opportunity? Here’s What This Investor Expects
- Blackstone (BX) Puts AI at the Center of Every Deal as Wall Street Weighs the Risks
- Mixed options sentiment in Lyft with shares down 0.73%
- Morning News Wrap-Up: Thursday’s Biggest Stock Market Stories!