DoorDash price target raised to $162 from $152 at Mizuho

Mizuho raised the firm’s price target on DoorDash to $162 from $152 and keeps a Buy rating on the shares. After looking through the company’s key operating metrics, the firm feels incrementally confident about its fiscal 2024 EBITDA forecast, which is 10% above consensus. Although EBITDA will be back-end loaded, DoorDash has put together the building blocks for grocery delivery, international, and membership acquisitions to drive second half of the year demand, the analyst tells investors in a research note.