Uber pricing better than Lyft during Q4, except late December, says DA Davidson

DA Davidson keeps a Buy rating on Uber (UBER) with unchanged $80 price target and a Neutral rating on Lyft (LYFT) with a $12 price target. The analyst writes that the firm’s analysis of pricing and wait times for both companies during Q4 saw Uber’s overall weighted average pricing generally cheaper than that of Lyft during the quarter, with the exception of late December. Late in the month, Uber has “pulled the price lever hard”, resulting in UBER going from about 15% cheaper than Lyft in early December to 8% more expensive at the end of the month, the firm states. Uber’s wait times also ticked up during October and November while those of Lyft stayed steady, resulting in a narrower wait time advantage for Uber vs. observed wait times during Q3, DA Davidson added.