Lyft Shares Down 8% Following RBC Capital’s Downgrade
<p><a href='https://financialmodelingprep.com/financial-summary/LYFT'>Lyft, Inc.(NASDAQ:LYFT)</a> shares closed more than 8% lower on Friday following RBC Capital’s downgrade.</p>
<p>The analysts downgraded the company to Sector Perform from Outperform and lowered their price target to $16 from $30. Among the main reason for the downgrade, the analysts mentioned concerns that competitive challenges may be more structural than originally thought.</p>
<p>The analysts believe UBER's structural advantages drive increased competitive intensity for LYFT where its ability to maneuver is likely limited by its long-term profit targets. Furthermore, the analysts believe margin targets may limit the company’s ability to regain share beyond geographic reversion.</p>

NASDAQ:LYFT