DoorDash price target raised to $68 from $58 at UBS

UBS analyst Lloyd Walmsley raised the firm’s price target on DoorDash to $68 from $58 and keeps a Neutral rating on the shares. The analyst is now more confident in the company’s 2023 order volume growth and sees upside to EBITDA estimates assuming a softer consumer does not materialize in the second half of 2023. In addition, management commentary on the New York City delivery minimum wage increase helped allay fears that this will be materially disruptive to results, the analyst tells investors in a research note.