Lyft (LYFT) PT Raised to $82 at RBC Capital

RBC Capital analyst Mark Mahaney raised the price target on Lyft (NASDAQ: LYFT) to $82.00 (from $76.00) while maintaining an Outperform rating.

The analyst commented, "Lyft reported Beat & Raise Q3 results. Q3 Revenue $956MM, +63% Y/Y and EBITDA losses ($128MM) nicely beat Street expectations, and LYFT raised Q4 Revenue & EBITDA guidance. Further product innovation and improving market conditions should continue to support robust Revenue growth with a clearly improving path to profitability. Estimates raised. PT to $82 from $76. Reiterate Outperform. Lyft will be @ our November TIMT Conference."

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