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Lyft price target lowered to $17.50 from $21 at BofA

Lyft price target lowered to $17.50 from $21 at BofA

BofA lowered the firm’s price target on Lyft (LYFT) to $17.50 from $21 and keeps a Buy rating on the shares after the company reported “mixed” Q4 results and guided to Q1 bookings of $4.05B-$4.20B, which the firm notes is slightly below the Street’s prior forecast of $4.23B. The slight bookings miss is likely to fuel negative sentiment, but the firm argues that high-teens volume growth in January “should dispel some share loss narrative.”

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