DoorDash price target raised to $180 from $177 at KeyBanc

KeyBanc analyst Justin Patterson raised the firm’s price target on DoorDash (DASH) to $180 from $177 and keeps an Overweight rating on the shares. The firm notes Doordash posted solid Q3 results and Q4 guidance as trends in the core U.S. restaurant business remain solid, while new verticals continue to ramp. Further, Doordash is driving take rate and cost of sales efficiencies, which is benefiting gross margins. KeyBanc remains confident in continued double digit GOV growth, while DoorDash continues to demonstrate impressive margin inflection.