Truist raised the firm’s price target on DoorDash (DASH) to $272 from $230 and keeps a Buy rating on the shares. Truist remains constructive on DoorDash into Q2 earnings, with the firm’s analysis indicating that growth in gross order value has tracked ahead of expectations in Q2 and is showing an acceleration so far in Q3, the analyst tells investors in a research note. Its financial performance affords management the ability to double down on its international aspirations with the acquisition of Deliveroo and on merchant software tools with the purchase of SevenRooms, both of which should expand DoorDash’s total addressable market and momentum going forward, Truist says.
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