BofA analyst Michael McGovern raised the firm’s price target on Lyft (LYFT) to $21 from $19 and keeps a Buy rating on the shares after Lyft CEO David Risher announced that Marubeni will deploy its fleet of AVs equipped with Mobileye (MBLY) AV tech on Lyft in Dallas as soon as 2026. Lyft EVP of Driver Experience Jeremy Bird also told TechCrunch that the company is in talks with “every major autonomous carmaker” to add supply to Lyft, BofA noted. The firm continues to like the risk/reward for Lyft based on potential for autonomous vehicles to take longer than expected to reach scale, the analyst added.
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