Lyft price target lowered to $15 from $16 at Piper Sandler

Piper Sandler analyst Alexander Potter lowered the firm’s price target on Lyft to $15 from $16 and keeps an Overweight rating on the shares. The stock is indicated down 30% following the "weak" Q1 guidance, the analyst tells investors in a research note. However, demand is rising, suggesting Lyft has exposure to a solid multi-year theme, the firm contends.