Cantor Fitzgerald initiated coverage of DoorDash with an Overweight rating and $160 price target, while assigning the stock “Top Pick status.” Its bullish view centers on three main points: the view that DoorDash is well positioned to sustain gross order value, or GOV, growth at “a healthy rate”; the expectation that EBITDA margins should increase in high increments; and the “decent possibility” of positive revisions on GOV/EBITDA over next few quarters.
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