Lyft downgraded to Neutral on profitability challenges at Northcoast

Northcoast analyst John Healy downgraded Lyft (LYFT) to Neutral from Buy following the Q3 report. The company faces a difficult road toward profitability and lacks upcoming catalysts, Healy tells investors in a research note. The analyst says Lyft’s costs continue to present a "challenge" and that its performance relative to Uber (UBER) is "okay not great." Market share loss in Q3 is a concern and while Lyft’s growth in bikes/scooters shows potential, greater urgency on profitability in the main business is preferred, writes Healy.