DoorDash price target lowered to $173 from $183 at Mizuho

Mizuho analyst James Lee lowered the firm’s price target on DoorDash (DASH) to $173 from $183 and keeps an Outperform rating on the shares. DoorDash delivered a good quarter, with above-consensus GOV and EBITDA guidance due to resilient consumer demand, and the strong GOV execution is a positive leading indicator as the company gains share while improving operating leverage, the analyst tells investors in a research note. The firm says DoorDash remains well-positioned long-term and sees optionality as the company ramps up grocery delivery and advertising.