BofA raised the firm’s price target on Lyft (LYFT) to $12.50 from $10.50 and keeps an Underperform rating on the shares following “mixed” earnings results that included a bookings beat. The firm raised its target based on higher bookings and also lower assumed rate of annual dilution from share-based compensation, but with less growth and margin expansion than Uber (UBER) in 2024, as well as still share losses to Uber, the firm reiterates its Underperform rating on Lyft.
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