LYFT Inc (NASDAQ:LYFT) shares were trading 2.2% higher at $51.17 Monday after Daiwa Capital analyst Jairam Nathan upgraded the ride-sharing company from Neutral to Outperform and lowered the price target from $59 to $56.

Lyft is the second-largest ride-sharing service provider in the U.S., connecting riders and drivers over the Lyft app. Lyft offers a variety of rides via private vehicles, including traditional private, shared and luxury rides. Besides ride-share, Lyft also has also entered the bike- and scooter-share market to bring multimodal transportation options to users.