Lyft price target lowered to $15 from $16 at DA Davidson

DA Davidson lowered the firm’s price target on Lyft (LYFT) to $15 from $16 and keeps a Neutral rating on the shares following mixed Q4 results that were a bit light on Gross Bookings but still up a solid +15%. The firm notes Q1 Rides growth guidance of mid-teens was constructive but is expected to translate to slower Q1 GB growth of 10%-14%, with Lyft citing some market-driven pressure on pricing starting late in Q4 and persisting quarter-to-date.