Lyft price target lowered to $22 from $60 at Tigress Financial

Tigress Financial lowered the firm’s price target on Lyft to $22 from $60 and keeps a Buy rating on the shares. The analyst cites a “re-rating of valuation” for the target drop. The firm believes Lyft will continue to benefit from the “massive post-pandemic recovery” in travel as well as multiple operating efficiencies and new growth initiatives initiated under new CEO David Risher.