Lyft targets constructive for the industry and Uber, says BofA

After Lyft (LYFT) hosted its first investor day on June 6 and provided financial targets that included 15% Gross Bookings compound annual growth from 2024-27 and 4% adjusted EBITDA margin on bookings in FY27, BofA analyst Justin Post called the targets “constructive for the industry” and Uber (UBER) given that they suggest stable share and disciplined product and promotional spending. The firm, which also points to Lyft announcing “no surprise partnerships that could be disruptive” and constructive commentary on California regulation, likes the 12-month set up for Uber and reiterates a Buy rating and $87 price target on Uber shares.