Lyft price target raised to $22 from $21 at TD Cowen

TD Cowen analyst John Blackledge raised the firm’s price target on Lyft (LYFT) to $22 from $21 and keeps a Buy rating on the shares. The firm notes the company’s Q2 GBs were 0.3% below consensus, decelerating slightly amid record active riders and rides, while EBITDA was 4.1% above consensus, reflecting opex leverage. Q3 GBs guide was +4.5% vs consensus at high end, while EBITDA guide was +7% vs consensus.