Lyft price target lowered to $17 from $20 at Truist

Truist lowered the firm’s price target on Lyft (LYFT) to $17 from $20 and keeps a Hold rating on the shares. The company reported mixed Q4 results, while its Q1 guide reflects healthy underlying demand offset somewhat by near-term pricing pressures that began in late December, the analyst tells investors in a research note. Lyft continues to make progress on improving the customer experience and accelerating product innovation, but the firm remans at Hold pending more consistent performance and additional proof points that bookings growth and EBITDA margin targets outlined at Analyst Day are achievable, the firm adds.