Lyft price target lowered to $30 from $42 at Wells Fargo

Wells Fargo analyst Brian Fitzgerald lowered the firm’s price target on Lyft (LYFT) to $30 from $42 and keeps an Overweight rating on the shares. The analyst notes the company reported a solid Q3, but shares reacted negatively to mixed guidance, as rideshare revenue trends are recovering more slowly at Lyft versus Uber (UBER).