Barclays raised the firm’s price target on Lyft to $14 from $13 and keeps an Equal Weight rating on the shares. The company continues to move in the right direction, providing booking and rides disclosures, and showing a desire to be disciplined on costs and innovative on product and brand, the analyst tells investors in a research note. The firm says the new management team seems to have the right plan to execute on fixing the previously imbalanced marketplace and winning back customers and drivers.
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Read More on LYFT:
- Why Did Lyft Stock (NASDAQ:LYFT) Fall Despite Its Q3 Earnings Beat?
- Lyft sees Q4 adjusted EBITDA $50M-$60M
- Lyft reports Q3 gross bookings at $3.55B, up 15% from last year
- Lyft sees Q4 revenue growth mid-single-digits q/q, consensus $1.19B
- Lyft reports Q3 EPS (3c), consensus 13c
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