Lyft price target raised to $23 from $20 at BMO Capital

BMO Capital raised the firm’s price target on Lyft (LYFT) to $23 from $20 and keeps a Market Perform rating on the shares. High-value modes and under-penetrated North America markets drove a significant portion of the company’s ride growth in Q3, which underpins our expectations for sustained top-line growth, the analyst tells investors in a research note.