Lyft price target lowered to $11 from $13 at Susquehanna

Susquehanna analyst Shyam Patil lowered the firm’s price target on Lyft to $11 from $13 and keeps a Neutral rating on the shares. The analyst said 4Q was generally fine, though an accounting change led to some reported metrics coming in below expectations. The 1Q guide was softer, as the business is facing significant near-term challenges, including lower pricing and changes to the supply/demand balance on the platform.