Lates News

In pre-market trading on Tuesday, Lyft's stock price soared by as much as 4.3% due to TD Cowen upgrading its rating from "hold" to "buy," citing multiple growth drivers. Analyst John Blackledge pointed out that growth drivers include refocusing the business outside of the top 25 markets and expanding internationally through the acquisition of FREENOW. Additionally, Lyft's continuous product innovation and partnerships are helping drive its development. The target price is set at $21, representing a 40% increase from the previous closing price. Lyft currently has 13 "buy" ratings, 31 "hold" ratings, and 2 "sell" ratings with an average target price of $17.30. As of the previous trading day's close, the stock has already increased by 16% year-to-date.