Lyft downgraded to Sector Weight from Overweight at KeyBanc

KeyBanc analyst Justin Patterson downgraded Lyft to Sector Weight from Overweight without a price target. The company’s Q1 results "cast uncertainty" on its improving execution and a profit inflection, the analyst tells investors in a research note. The firm says with two-thirds of the quarter-over-quarter decline in revenue coming from less Prime Time activity and reducing prices to match its competitor, it has more questions on whether revenue can achieve mid-to-high teens growth in 2023.