Jefferies lowered the firm’s price target on DoorDash to $87 from $90 and keeps a Hold rating on the shares. In Delivery & Mobility, “drivers of EBITDA upside abound,” but the firm remains neutral on DoorDash given potential upside to GOV/EBITDA appears captured by “peer-high” expectations and valuation, while stating that the NYC minimum wage implementation could pressure Q4 EBITDA.
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