Lyft price target raised to $23 from $17 at Piper Sandler

Piper Sandler analyst Thomas Champion raised the firm’s price target on Lyft (LYFT) to $23 from $17 and keeps an Overweight rating on the shares. The firm notes Lyft reported a strong Q3 with results above the high-end of guidance and raised guidance for FY24. Piper was impressed by the long-term strategy and management after its analyst day in June.