DoorDash price target raised to $285 from $245 at BofA

BofA analyst Michael McGovern raised the firm’s price target on DoorDash (DASH) to $285 from $245 and keeps a Buy rating on the shares ahead of the company reporting Q2 results on August 6. The firm, which sees strong growth data points so far for June and July, notes that its GOV and EBITDA estimates for Q2 are above the Street consensus. DoorDash still has room for sentiment improvement and the firm thinks Q3 gross order volume guidance could have upside to Street estimates, the analyst adds in a preview.