Update: Wedbush Downgrades Lyft to Underperform From Neutral Due to 'AV Disruption' Impact, Cuts Price Target to $16 From $20

MT Newswires Live12-19

(Updates with the analyst's commentary.)

Wedbush downgraded Lyft (LYFT) to underperform rating from neutral while cutting the price target on it to $16 from $20, stating that the ride-hailing firm is "most at risk to the impact of AV [autonomous vehicle] disruption."

While Wedbush expects AVs to disrupt the market over time, the near-term impact to "established ridesharing platforms" is "limited", analysts led by Scott Devitt wrote in a Friday note.

In 2026, investors will "more intensely debate" when AVs will expand to a greater market share, the brokerage said in its note.

Lyft has an average rating of overweight and mean price target of $24.54, according to analysts polled by FactSet.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 19.22, Change: -0.64, Percent Change: -3.24

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