Lyft price target raised to $17 from $14 at Barclays

Barclays raised the firm’s price target on Lyft to $17 from $14 and keeps an Equal Weight rating on the shares. The company’s gross bookings growth accelerating and margins expanding in 2024 is “notable improvement after a few years of volatile performance,” the analyst tells investors in a research note. The firm says the ride-hail industry is in a good place and Lyft “seems to have found its rhythm under the new management team.”