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5-Star Analyst Reiterates Bullish Stance on Lyft Stock; Here’s Why [Yahoo! Finance News]

Lyft, Inc. - Class A (LYFT) 
Last lyft, inc. - class a earnings: 2/11 04:05 pm Check Earnings Report
Anyone need a Lyft LYFTOn Tuesday, Lyft disclosed it has reached an agreement with Enstar to effectively eliminate almost all of the company’s principal auto insurance liabilities concerning periods prior to October 2018. At investment firm Stifel Nicolaus, the news was received as a welcome development.Scott DevittDevitt doesn’t believe the transaction should impact Lyft’s liquidity position. The company exited 2019 with almost $2.9 billion in unrestricted cash, cash equivalents, and short-term investments, and despite the current macro environment, Devitt expects Lyft to see out 2020 with “a significant cash cushion even with significant bookings deterioration.”Devitt keeps his Buy rating on Lyft, along with a $42 price target. The implication for investors? Possible upside of 91%. To watch Devitt’s track record,click hereOverall, the Street remains firmly on Lyft’s side. 21 Buys and 5 Holds add up to a Strong buy consensus rating. The average price target is $56.41 and could provid Show less Read more
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