Lyft price target lowered to $16 from $19 at JPMorgan

JPMorgan lowered the firm’s price target on Lyft (LYFT) to $16 from $19 and keeps a Neutral rating on the shares post the Q4 report. The firm believes Lyft’s execution has improved over the past year, with increased focus on product innovation and service for both drivers and riders. However, Lyft is facing an increasingly competitive rideshare landscape as of late Q4 and into Q1, the analyst tells investors in a research note. JPMorgan says Lyft’s comments on pricing and competition stand in contrast to those of Uber, which expects UberX prices in the U.S. to increase only marginally in 2025 as insurance increases moderate. “We can’t quite reconcile the differences between the two,” the firm contends.