DoorDash price target raised to $125 from $115 at Bernstein

Bernstein raised the firm’s price target on DoorDash to $125 from $115 and keeps an Outperform rating on the shares post the Q4 report. The company reported a solid set of results that support the view on healthy top-line growth and improving profitability, the analyst tells investors in a research note. The firm would buy the stock on the post-earnings selloff. Investors will debate whether 2024 guidance indicates a more “in-line” ear to come, but it is “important not to miss the forest for the trees,” says Bernstein. It believes DoorDash remains one of the best-run on-demand delivery assets globally, and says the “inflection in earnings power is very much underway.”