Morgan Stanley upgraded DoorDash to Overweight from Equal Weight with a price target of $145, up from $135. The company’s improving user loyalty and category expansion provides confidence in Marketplace order growth of 16% annually through 2026, the analyst tells investors in a research note. The firm sees the company’s growth and profit execution driving better than expected free cash flow. DoorDash’s core restaurant and grocery growth runway “remains long” as it addresses $2.6 trillion of offline spend, says Morgan Stanley.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on DASH:
- DoorDash price target raised to $135 from $110 at Susquehanna
- DoorDash price target raised to $125 from $115 at Bernstein
- DoorDash price target raised to $130 from $105 at RBC Capital
- DoorDash price target raised to $138 from $120 at BMO Capital
- DoorDash price target raised to $115 from $92 at Wedbush
