UBS Sees Lyft Gaining From Robust Post-Pandemic Recovery; Sees 51 percent Upside

UBS Sees Lyft Gaining From Robust Post-Pandemic Recovery; Sees 51 percent Upside
A sign marks a rendezvous location for Lyft and Uber users at San Diego State University in San Diego, Calif., on May 13, 2020. Mike Blake/Reuters
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UBS analyst Lloyd Walmsley initiated coverage of Lyft Inc with a Buy rating and $60 price target, implying a 50.8 percent upside.

The company benefits from a robust post-pandemic recovery as a pure-play rideshare business operating in a “stable duopoly market,” with little noise around investment in delivery wars and having no exposure to international competition.