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Lyft And DoorDash Stocks Are Trading Higher Monday – Here’s Why

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Lyft, Inc (NASDAQ:LYFT) and DoorDash, Inc (NASDAQ:DASH) stocks climbed after RBC Capital upgraded stock ratings and price targets.

Analyst Brad Erickson upgraded Lyft from Sector Perform to Outperform and raised the price target from $17 to $23.

Erickson upgraded DoorDash from Sector Perform to Outperform and raised the price target from $130 to $175.

The improved execution of Lyft’s core business is foundational to the analyst’s thesis. 

It allows it to build scale and marketplace efficiency to grow down-market products that drive elasticity and give potential partners greater confidence in being a long-term sustainable competitor, the analyst wrote in the note. 

His analysis found that price continues to move in relative lock-step with Uber Technologies, Inc (NYSE:UBER) while pick-up times as a reflection of driver supply continue to move within a …

Full story available on Benzinga.com

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