Lates News

Analyst Scott Devitt of Wedbush released a report on Friday stating that the market has underestimated the negative impact of autonomous driving cars and robot taxi services on companies like Lyft and Uber. Devitt wrote that due to Lyft's "high concentration in the U.S. ride-sharing market and its single business portfolio", it faces greater risks than Uber. Following this downgrade, Wedbush has lowered Lyft's target price from $20 to $16.