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- UBS analyst Lloyd Walmsley initiated coverage of Lyft Inc LYFT with a Buy rating and $60 price target, implying a 50.8% upside.
- The company benefits from a robust post-pandemic recovery as a pure-play rideshare business operating in a "stable duopoly market," with little noise around investment in delivery wars and having no exposure to international competition.
- Lyft could lose some modest share to Uber Technologies Inc UBER, but this would be mix related rather than competitive, Walmsley adds, stating that its margins "can still scale."
- Price Action: LYFT shares traded higher by 5.13% at $40.18 on the last check Thursday.
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