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Late last month, Lyft Inc (NASDAQ:LYFT) filed a lawsuit against San Francisco for overcharging its ride-hailing services by $100 million in taxes.
The stock climbed to $18 after the company reported solid third-quarter results and more evidence to “buy into the story” is likely to come from its fourth-quarter performance, according to Benchmark.
Analyst Daniel Kurnos upgraded the rating for Lyft from Hold to Buy, while establishing a new price target of $20.
The Lyft Thesis: There are indications of the company performing “particularly well” during the primetime holiday hours, while benefiting from recent partnership wins, Kurnos said in the upgrade note.
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Full story available on Benzinga.com
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