DoorDash price target raised to $173 from $162 at Mizuho

Mizuho analyst James Lee raised the firm’s price target on DoorDash to $173 from $162 and keeps an Outperform rating on the shares. Industry data suggests gig economy services demand remains resilient with moderating inflation and continued favorable unit economics, the analyst tells investors in a research note. The firm expects category leaders in ride-sharing and food delivery to gain share and operating leverage. For the online travel agencies, Mizuho sees a mixed outlook as consumer trade downs and shorter booking windows are reducing revenue visibility. Its top pick into the earnings reports is DoorDash (DASH). It sees the company building volume from increased marketing, driving operating leverage in the back half of the year.