Lyft price target raised to $20 from $14 at Barclays

Barclays analyst Ross Sandler raised the firm’s price target on Lyft (LYFT) to $20 from $14 and keeps an Equal Weight rating on the shares. The company’s free cash flow was the big surprise in Q3 but partially a result of insurance mix and from underlying margin improvement, the analyst tells investors in a research note. The rest of Lyft’s key metrics were broadly in-line with expectations and in contrast to Uber, showed consistent growth trends in the second half for ridehail, says the firm.