DoorDash price target raised to $109 from $92 at Roth MKM

Roth MKM raised the firm’s price target on DoorDash to $109 from $92 but keeps a Neutral rating on the shares. The firm is rolling forward its valuation framework to FY25 while noting that the stock’s multiple already reflects the “high” buy-side expectations. The analyst adds that the retail partnerships at DoorDash could provide a boost to transaction volume as the company has significantly expanded its reach beyond food delivery, partnering with major retailers like Victoria’s Secret, Party City, and Gus’s Community Market.