Benchmark raised the firm’s price target on Lyft (LYFT) to $26 from $20 and keeps a Buy rating on the shares. Lyft “furthered their credibility in the rideshare space” with their first Waymo (GOOGL) partnership last week, breaking Uber‘s (UBER) “perceived stranglehold” with what some considered a long overdue announcement, the analyst tells investors. The firm’s bet remains that Lyft gets closer to $1B in EBITDA by 2027 than the Street’s forecast of $830M, which suggests that shares “still look very attractive from a valuation perspective,” the analyst added.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LYFT:
- Why an Uber-Sized Gap Should Keep Investors Neutral on Lyft Stock (LYFT)
- Lyft’s Strategic Partnerships and Financial Projections Drive Buy Rating and Increased Price Target
- Mixed options sentiment in Lyft with shares down 3.59%
- Via Transportation Stock (VIA) Stalls Despite Waymo Deal Bringing AV ‘To the People’
- Lyft price target raised to $14 from $12 at BofA