DoorDash price target raised to $204 from $200 at UBS

UBS raised the firm’s price target on DoorDash (DASH) to $204 from $200 and keeps a Neutral rating on the shares. UBS believes DoorDash will deliver incremental adjusted EBITDA dollars for 2025, 2026, and 2027 at least at the levels seen in 2024, with part of the benefit coming directly as DoorDash passes through some unit economics and leverage benefits through shareholders, and then part of it will be realized closer to terminal state as the company invests dollars to capture share in what it believes is a $5T total addressable market in the U.S. alone, the analyst says. UBS continues to prefer Uber (UBER), citing clearer adjusted EBITDA targets through 2026, ongoing platform synergies, and the potential for a partnership expansion with Waymo in 2025.