Lyft initiated with a Neutral at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage of Lyft with a Neutral rating and $13 price target. The firm says Lyft should remain a “stable” number two player in the U.S. rideshare space in the near to medium term. The shares are trading at a steep discount to Uber and the peer group average, which reflects the inherent uncertainties in the company’s financial metrics, the analyst tells investors in a research note.