DoorDash price target raised to $113 from $110 at Citi

Citi analyst Ronald Josey raised the firm’s price target on DoorDash to $113 from $110 and keeps a Buy rating on the shares. The analyst emerged from the Q3 results incrementally positive on shares of DoorDash. Orders grew 24% year-over-year and accelerated sequentially across the company’s core U.S. restaurants, non-restaurants and International segments. the analyst tells investors in a research note. The report reaffirms the view that DoorDash is executing “extremely well” as it simultaneously builds out its product offerings and verticals while expanding margins, says Citi.