DoorDash price target raised to $125 from $100 at Wells Fargo

Wells Fargo raised the firm’s price target on DoorDash to $125 from $100 and keeps an Equal Weight rating on the shares. The firm is also raising Q1 estimates on consistent U.S. marketplace growth but expects another reasonably conservative Q2 guide and no update to full year 2024 guidance. U.S. market share and grocery and convenience progress are key variables in an otherwise straightforward story, Wells adds.