Editor’s Note: This article has been updated to emphasize Benchmark’s Monday analyst upgrade.
Lyft Inc. (NASDAQ:LYFT) received an upgrade Monday from Benchmark analyst Daniel Kurnos, who raised the stock from Hold to Buy with a price target of $20, citing increasing evidence to “buy into the story” as the company builds on momentum from its third-quarter results.
Kurnos pointed to strong holiday performance, new partnership wins, and the expansion of Lyft’s Price Lock platform as key drivers of future growth. He also highlighted the company’s Flexdrive platform as a strategic asset, positioning Lyft to participate in the autonomous vehicle market regardless of how the industry evolves.
The upgrade comes as Lyft continues to gain attention for a $100 million lawsuit filed late last month against …
Full story available on Benzinga.com