Lyft keeping up on price and supply, says RBC Capital

RBC Capital analyst Brad Erickson keeps an Outperform rating and $24 price target on Lyft (LYFT) heading into the company’s Analyst Day next week. The firm’s updated driver supply analysis continues to support the view that Lyft is largely keeping pace on price and supply with Uber (UBER), which is “structurally better” than what is currently reflected in the stock, the analyst tells investors in a research note. RBC adds that investors will look for more commentary on the frequency and product underpinnings signalling sustainable bookings growth for Lyft.