DoorDash price target raised to $130 from $105 at RBC Capital

RBC Capital raised the firm’s price target on DoorDash to $130 from $105 and keeps a Sector Perform rating on the shares. The company’s Q4 results were “largely positive” amid a “challenging” setup given the recent positive sentiment, the analyst tells investors in a research note. The main nitpick was the implied deceleration in gross order volume in 2024, with an estimated single-digit exit rate at the low-end, though DoorDash has routinely over-delivered vs. guidance, the firm added.