Lyft price target raised to $23 from $16 at Truist

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.