DoorDash upgraded to Buy at BTIG following positive checks

As previously reported, BTIG analyst Jake Fuller upgraded DoorDash to Buy from Neutral with a $155 price target, telling investors that the firm’s checks point to ongoing near-term strength and under-appreciated longer-term drivers that lead it to raise estimates “again.” DoorDash is hitting “important milestones” with positive EBIT and net income expected in the second half, while rideshare-delivery is “a scarce pocket of secular growth in consumer-facing Internet,” adds the analyst, who wants to increase exposure relative to more mature categories of the Internet.