Lyft price target raised to $13 from $12 at UBS

UBS analyst Stephen Ju raised the firm’s price target on Lyft (LYFT) to $13 from $12 and keeps a Neutral rating on the shares as part of a Q3 earnings preview for the rideshare and food delivery space. With Sensor Tower data suggesting minute share shift and steady quarter-over-quarter usage trends, the primary driver of UBS’s sales estimate revisions is a more benign currency headwind, the analyst tells investors in a research note. The firm says that given recent bullish commentary from Lyft at a recent conference, investors are likely looking for unit growth at or above mid-teens.