Lyft price target raised to $26 from $20 at Wells Fargo

Wells Fargo raised the firm’s price target on Lyft (LYFT) to $26 from $20 and keeps an Equal Weight rating on the shares. The firm notes Lyft is mostly a pure play U.S. rideshare operator, and as such its healthy U.S. rideshare market outlook for 2026 is a clear positive for the stock. Despite this positive industry outlook, Wells remains on the sidelines as it views the recent diversification into non-U.S. assets as dilutive to the multiple and growth rate.