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home / news releases / lyft new driver behind the wheel downgraded to hold

UBER - Lyft: New Driver Behind The Wheel Downgraded To Hold

Uber Technologies Inc.

2023-03-30 08:00:00 ET

Summary

  • We’re downgrading Lyft to a hold after news of a new CEO next month.
  • We were previously buy-rated on Lyft based on our belief that the company was ripe for a potential takeout scenario.
  • We’re more guarded on the stock after incoming CEO David Risher stated that “Lyft is not for sale.”.
  • Lyft is struggling to turn profits and compete in a highly fragmented and competitive market.
  • The stock is down 21% YTD. We see more downside ahead and recommend investors stay on the sidelines of the stock until we see how the Risher era pans out.

For further details see:

Lyft: New Driver Behind The Wheel, Downgraded To Hold
Stock Information
Company Name: Uber Technologies Inc.
Stock Symbol: UBER
Market: NYSE
Website: uber.com
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