Guggenheim downgrades Lyft to Neutral with a $16 price target, citing slowing ride-growth forecasts and market saturation as the company struggles to find near-term momentum.
Guggenheim analyst Michael Morris downgraded Lyft to Neutral, slashing the price target to $16. The firm cites cooling ride-growth estimates and North American market saturation as primary headwinds, projecting a lack of near-term catalysts for the stock. Despite strategic partnerships with DoorDash and Waymo, analysts remain cautious regarding the company's operational expansion and capital allocation.
The downgrade was driven by cooling ride-growth estimates, concerns over North American market saturation, and a lack of near-term catalysts to improve investor sentiment.
While Guggenheim is bearish with a $16 price target, the broader Wall Street consensus remains a 'Moderate Buy' with a mean price target of $19.83.