Lyft price target raised to $19 from $14 at BofA

BofA raised the firm’s price target on Lyft (LYFT) to $19 from $14 and keeps an Underperform rating on the shares. For 2026, the firm “slightly” raised bookings and EBITDA estimates to $21.3B and $683M, respectively, after the company reported Q3 bookings and EBITDA slightly above Street estimates. Lyft’s profitability has improved and the firm is moving to an EBITDA valuation basis more comparable to peers, but it continues to prefer faster growers in the sector and thinks Uber (UBER) is in better financial position to integrate AVs, the analyst tells investors.