DoorDash price target raised to $77 from $60 at DA Davidson

DA Davidson analyst Tom White raised the firm’s price target on DoorDash to $77 from $60 but keeps a Neutral rating on the shares. The company’s Q4 results were "strong" and its growth looks "resilient" as DashPass and new category expansion continue, the analyst tells investors in a research note. The firm notes however that DoorDash stock’s multiple is "full" at enterprise value 35-times expected 2023 EBITDA given the "still fluid" global competitive and regulatory landscape for online food/retail delivery along with the still uncertain global macro and inflation backdrop.