Lyft downgraded to Hold from Buy at Argus

Argus analyst Bill Selesky downgraded Lyft to Hold from Buy without a price target. The downgrade follows the company’s Q4 operating loss and "weak" Q1 guidance, the analyst tells investors in a research note. Although Lyft has worked to lower costs, further cuts are needed in order to bring its cost structure in line with peers, contends the firm. Despite improving conditions in the ridesharing industry, Argus sees limited upside for Lyft shares in the near term.