DoorDash price target raised to $175 from $165 at RBC Capital

RBC Capital raised the firm’s price target on DoorDash (DASH) to $175 from $165 and keeps an Outperform rating on the shares. The company’s Q3 results were strong with solid gross order value guidance and EBITDA coming in only a bit below buy-side expectations, though most positively, its continued strong order growth is benefiting from healthy frequency increases, record loyalty further augmented with new partnerships, gross profit expansion indicating a smaller profit drag from new verticals, and ad revenue picking up, the analyst tells investors in a research note.