Evercore ISI raised the firm’s price target on Lyft (LYFT) to $30 from $15 and keeps an In Line rating on the shares in the wake of mixed Q3 results. All in, the firm believes this was a very solid quarter for Lyft, and while Evercore remains on the sidelines, it is more constructive at the margin. Execution under CEO David Risher has dramatically improved over the last two years, the firm adds. The key question for Lyft remains the company’s ability to sustain top-line growth while ramping profitability.
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