Goldman Sachs Downgrades Lyft to Neutral, Raises Price Target to $15
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs analyst Eric Sheridan has downgraded Lyft (NASDAQ:LYFT) from Buy to Neutral while increasing the price target from $12 to $15.

January 11, 2024 | 12:24 pm
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NEUTRAL IMPACT
Lyft's rating was downgraded by Goldman Sachs from Buy to Neutral, although the price target was raised from $12 to $15.
The downgrade to Neutral suggests that Goldman Sachs sees limited upside potential for Lyft's stock in the short term, which could temper investor enthusiasm. However, the increase in the price target from $12 to $15 indicates a positive adjustment to the expected value of the stock, which could counterbalance the downgrade's negative impact. The net effect on the stock price may be neutral in the short term as the market digests both pieces of information.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100