Benchmark raised the firm’s price target on Lyft (LYFT) to $26 from $20 and keeps a Buy rating on the shares. Lyft “furthered their credibility in the rideshare space” with their first Waymo (GOOGL) partnership last week, breaking Uber‘s (UBER) “perceived stranglehold” with what some considered a long overdue announcement, the analyst tells investors. The firm’s bet remains that Lyft gets closer to $1B in EBITDA by 2027 than the Street’s forecast of $830M, which suggests that shares “still look very attractive from a valuation perspective,” the analyst added.
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