Lyft (LYFT) PT Lowered to $15 at BMO Capital Amid 'Uneven Bookings'

BMO Capital analyst Brian J. Pitz lowered the price target on Lyft (NASDAQ: LYFT) to $15.00 (from $18.00) while maintaining a Market Perform rating.

The analyst commented: "Uneven Bookings Outlook Keeps Us Cautious; We maintain our Market Perform on shares of LYFT and lower our target price to $15 from $18 on the following: 1) Lyft's 1Q25E Bookings guidance growth of 10-14% is below its mid-teens 3-year outlook, 2) price erosion exiting 2024 continues into 1Q25E, and 3) the termination of Delta partnership is a 1-2% headwind to Gross Bookings. A bright spot in 4Q24A is that AVs are proving incremental to overall rideshare."

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