Lyft shares are trading higher after RBC Capital upgraded the stock from Sector Perform to Outperform and raised its price target from $17 to $23.
Portfolio Pulse from Benzinga Newsdesk
Lyft's stock price increased following an upgrade by RBC Capital from Sector Perform to Outperform, with a raised price target from $17 to $23.
March 04, 2024 | 12:43 pm
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POSITIVE IMPACT
Lyft's stock price is likely to experience a short-term increase following the upgrade by RBC Capital from Sector Perform to Outperform, along with a raised price target from $17 to $23.
Stock upgrades by reputable financial institutions like RBC Capital typically lead to increased investor confidence and a short-term rise in stock prices. The significant raise in the price target from $17 to $23 indicates a strong positive outlook for Lyft, which is likely to attract more investors to the stock, driving up its price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100