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.
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