Lyft, Inc. (NASDAQ:LYFT) is included among the 10 Best Stocks Under $15 to Buy Right Now.
On May 9, Canaccord lowered its price recommendation on Lyft, Inc. (NASDAQ:LYFT) to $15 from $16
It reiterated a Hold rating on the shares following the company’s Q1 report. The analyst said Lyft “faces a Herculean climb to reach its 2027 targets” and added that the “robotaxi revolution is a structural threat” to the company’s long-term profitability. Canaccord also cited the “disruptive nature” of Lyft’s transition toward robotaxis as the reason behind the target reduction.
On the same day, RBC Capital lowered its price goal on Lyft to $18 from $22. It kept an Outperform rating on the stock. The firm said the company’s first quarter was not its strongest, with critics likely to focus on slowing organic growth and rider promotions moving in the wrong direction.