KeyBanc Reiterates Sector Weight Rating on Lyft (LYFT)

KeyBanc analyst Justin Patterson reiterated a Sector Weight rating on Lyft (NASDAQ: LYFT).

The analyst commented: "Lyft's expansion into Europe appears to be done at a relatively low cost and expands the TAM, which has long been a critique of investors. Further, we believe there are opportunities to improve efficiency and attract more partner interest (both about fleet management and autonomous vehicle, or AV, partners). The outstanding questions are: 1) the cost of scaling in competitive markets (Uber and Bolt have ~5x and ~3x as many monthly app downloads as FREENOW, respectively; 2) how international was factored into MT targets; and 3) how the activist responds (Engine's proxy battle just began with director nominations). We maintain our Sector Weight rating."

For an analyst ratings summary and ratings history on Lyft click here. For more ratings news on Lyft click here.

Shares of Lyft closed at $10.84 yesterday.

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