DoorDash price target raised to $160 from $145 at Oppenheimer

Oppenheimer raised the firm’s price target on DoorDash to $160 from $145 and keeps an Outperform rating on the shares. After conducting a survey with 1,451 respondents, the firm is “incrementally more positive” for restaurant and grocery delivery with 64% and 70% of respective existing users spending more today versus six months ago. For restaurant delivery, the survey indicates there is still a large frequency opportunity for existing users, the analyst tells investors in a research note. Opco increased Uber and DoorDash volume estimates following the survey.