Jefferies analyst John Colantuoni raised the firm’s price target on Lyft (LYFT) to $22 from $15 and keeps a Hold rating on the shares after the company announced a partnership with Alphabet’s (GOOG) (GOOGL) Waymo to provide autonomous vehicle services in Nashville, beginning in 2026. The firm considers the news a reflection of Waymo’s desire to diversify its partnerships to avoid reliance on any single player, namely Uber (UBER), and adds that Waymo’s partnerships with both supports the firm’s view that rideshare platforms will become the eventual aggregators of AV demand.
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