Lyft price target lowered to $11 from $15 at Deutsche Bank

Deutsche Bank analyst Benjamin Black lowered the firm’s price target on Lyft to $11 from $15 and keeps a Hold rating on the shares. The company reported a quarter that left investors with more questions than answers, but the biggest disappointment was the Q1 guidance, the analyst tells investors in a research note. It appears Lyft’s decision to offset insurance cost inflation with a service fee increase has resulted in increased share losses to Uber, says the firm.