Roth Capital raised the firm’s price target on Lyft (LYFT) to $25 from $19 and keeps a Buy rating on the shares ahead of its Q3 results. The stock is up 50% since August thanks to the Waymo partnership announcement, California insurance benefit potential, and governance changes with founders and dual-class shares, the analyst tells investors in a research note. There is a pathway for Lyft’s shares to exceed $30 over the medium term as valuation remains reasonable, and consistent execution could provide investors greater conviction that Lyft can reach $1B in EBITDA, the firm added.
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