Why This DoorDash Analyst Is Turning Bullish, Upgrading Grocery Store Delivery App
Portfolio Pulse from Priya Nigam
Shares of DoorDash Inc (NYSE:DASH) rose after the company announced multiple new grocery partners. Mizuho Securities analyst James Lee upgraded the rating for DoorDash from Neutral to Buy, raising the price target from $90 to $105. Lee believes DoorDash's gross order value (GOV) growth will outperform guidance and Street expectations in the back half of 2023 due to its market share gains across all categories.
September 18, 2023 | 3:54 pm
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POSITIVE IMPACT
DoorDash's stock is expected to perform well due to its market share gains and the positive outlook from Mizuho Securities.
The news of the upgrade from Mizuho Securities and the raised price target is likely to boost investor confidence in DoorDash, potentially leading to an increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100