DoorDash price target raised to $138 from $120 at BMO Capital

BMO Capital raised the firm’s price target on DoorDash (DASH) to $138 from $120 and keeps an Outperform rating on the shares after its Q4 results. The company is a category leader in growing total addressable market, and BMO estimates that the industry is just 4% penetrated when combining Gross Order Values for DoorDash, Uber (UBER) and InstaCart (CART), the analyst tells investors in a research note. Innovation and secular tailwinds position DoorDash well for ongoing growth with a path to GAAP profitability in 2024, the firm added.