DoorDash price target raised to $121 from $109 at Roth MKM

Roth MKM analyst Rohit Kulkarni raised the firm’s price target on DoorDash (DASH) to $121 from $109 but keeps a Neutral rating on the shares. The company’s Q4 results topped estimates, though its Q1 outlook was clearly below elevated buy-side expectations, the analyst tells investors in a research note. At over $120, DoorDash shares are trading above 31-times expected FY24 EBITDA vs. Uber‘s (UBER) 28-times, though the stock should trade at a discount, the firm added.