Morgan Stanley has decided to maintain its Equal-Weight rating of Lyft LYFT and lower its price target from $23.00 to $17.00.
Shares of Lyft are trading down 0.38% over the last 24 hours, at $14.29 per share.
A move to $17.00 would account for a 18.92% increase from the current share price.
Lyft is the second-largest ride-sharing service provider in the U.S., connecting riders and drivers over the Lyft app. Lyft recently entered the Canadian market in an effort to expand its market outside the U.S. Incorporated in 2013, Lyft offers a variety of rides via private vehicles, including traditional private rides, shared rides, and luxury ones. Besides ride-share, Lyft also has entered the bike- and scooter-share market to bring multimodal transportation options to users.
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