As previously reported, Argus upgraded Lyft to Buy from Hold with a $20 price target after the company’s better than expected Q4 results reported last month. The company’s swing to operating profit was driven by a 10% increase in Active Riders and a 26% increase in Rides, though the company also benefited from a decline in operating expenses, the analyst tells investors in a research note. Argus maintanis its FY24 EPS view at 52c while setting a FY25 target of 84c.
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