Citi analyst Itay Michaeli raised the firm’s price target on Lyft to $15 from $13 and keeps a Neutral rating on the shares. The company delivered an “encouraging quarter” with Q4 ahead of estimates, Q1 guidance in-line and the 2024 outlook implying upside to Citi’s Q2-Q4 estimates, the analyst tells investors in a research note. The firm says Lyft’s 2024 will still be a year of execution, but that its recent progress has been encouraging.
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