Lyft (LYFT) PT Raised to $19 at Evercore ISI

Evercore ISI analyst Mark Mahaney raised the price target on Lyft (NASDAQ: LYFT) to $19.00 (from $17.00) while maintaining a In Line rating.

The analyst comments "Our View: We maintain our In-Line rating and increase our PT to $19 from $17 in the wake of Beat & Raise Q3. The key question for LYFT remains the company’s ability to sustain top-line growth while ramping profitability. While we see LYFT’s valuation as reasonable, we would like to see positive fundamental trends sustained over time to become constructive on shares. Mgmt. noted strong rideshare demand in Q3, robust adoption of new products, ongoing market expansion in Canada, positive returns from backto-school marketing campaigns, and announces new AV partners."

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