Lyft price target raised to $18 from $16.50 at Morgan Stanley

Morgan Stanley analyst Brian Nowak raised the firm’s price target on Lyft (LYFT) to $18 from $16.50 and keeps an Equal Weight rating on the shares. Better-than-expected Q3/Q4 Bookings, coupled with efficiencies and opex discipline, delivered strong EBITDA as Lyft is demonstrating profitable growth, the analyst tells investors in a post-earnings note.