UBS lowered the firm’s price target on Lyft (LYFT) to $15 from $16 and keeps a Neutral rating on the shares. Lyft reported worse than expected gross bookings and margin trajectory, which reinforces the firm’s below-consensus 2025-2027 adjusted EBITDA forecasts, the analyst tells investors in a research note. Lyft is driving both user growth and per user rides frequency, and some of Lyft’s more recent product innovations will become more commoditized alongside the loss of the Delta partnership, leaving UBS with some uncertainty on its medium-term forecasts, the firm adds. Additionally, UBS says the robotaxi threat is also unresolved limiting our visibility into near-term trading multiple expansion.
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