Truist raised the firm’s price target on Lyft (LYFT) to $23 from $16 and keeps a Hold rating on the shares. The company’s in-line Q3 results and Q4 guidance reflect continued improvement in the underlying health across the marketplace driven by a focus on driving enhancements to the user experience, new product initiatives, and a growing portfolio of partnerships, the analyst tells investors in a research note. Lyft’s initial FY26 commentary also points to further acceleration in gross bookings aided by recent acquisitions, the firm added.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LYFT:
- Lyft price target raised to $24 from $14 at Susquehanna
- Lyft price target raised to $25 from $21 at Deutsche Bank
- Lyft’s Earnings Call Highlights Growth and Strategic Partnerships
- Lyft price target raised to $30 from $15 at Evercore ISI
- Cautious Optimism: Mahaney Maintains Hold Rating on Lyft Amid Growth and Profitability Concerns