Lyft price target raised to $17 from $15 at RBC Capital

RBC Capital analyst Brad Erickson raised the firm’s price target on Lyft (LYFT) to $17 from $15 but keeps a Sector Perform rating on the shares. The company’s Q4 results were positive, indicating it is competing on a more stable footing competition wise and is maintaining control of its expense drivers like incentives & insurance costs, the analyst tells investors in a research note. Lyft is much more adequately competing with Uber (UBER) which is driving a justified re-rating, though the firm’s longer-term preference for the latter persists given its broader and likely more durable structural advantages, RBC added.