Lyft price target raised to $16 from $13 at Roth MKM

Roth MKM analyst Rohit Kulkarni raised the firm’s price target on Lyft (LYFT) to $16 from $13 and keeps a Neutral rating on the shares. The company reported upside to Q3 bookings and provided Q4 bookings outlook that was above expectations, the analyst tells investors in a research note. Lyft is on track or ahead of its three-year bookings, free cash flow, and operating margin outlook provided in June, the firm added.