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BofA Securities analyst Michael McGovern downgraded Lyft, Inc's LYFT rating to Underperform from Buy and cut the price forecast to $10.50 from $17.50 on Thursday.
Lyft's aspirations in the autonomous vehicle market are challenged by stiff competition, analysts say.
When it comes to ride-sharing in the U.S., there are only two choices for consumers and investors: Uber (UBER 0.24%) and Lyft (LYFT 2.99%).
Lyft (LYFT) closed the most recent trading day at $12.27, moving -1.76% from the previous trading session.
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The final trades of the day with CNBC's Melissa Lee and the Fast Money traders.
Shares of Lyft have continued to crash in 2025, pushing the stock to a very cheap ~8x adjusted EBITDA and ~4x FCF multiples. I'm upgrading Lyft to a strong buy, especially on the back of strong Q4 results that showed record-breaking bookings at a 15% y/y growth pace. Lyft's pure rideshare focus is more recession-proof than Uber (as delivery orders are more discretionary), offering stable demand amid potential economic downturns.
Lyft plans to start adding autonomous vehicles (AVs) to its ridesharing platform as soon as this summer.
Lyft (LYFT) reachead $11.72 at the closing of the latest trading day, reflecting a +1.65% change compared to its last close.
Washington state lawmakers have abandoned an attempt to limit the cost of ride-hailing fares during large public events.