DoorDash price target lowered to $72 from $80 at BofA

BofA analyst Michael McGovern lowered the firm’s price target on DoorDash to $72 from $80 and keeps a Buy rating on the shares ahead of the company’s report due on February 16. Key items from the report are expected to include annual guidance, comments on the NYC delivery minimum earnings rule and any new cost savings measures, said the firm. While raising its "below-Street" 2023 EBITDA view, BofA is lowering its price target given uncertainty around NYC and new management stock sales.