Oppenheimer has initiated its coverage of Lyft (LYFT, Financial) with an "Outperform" rating, setting a price target of $15. The firm anticipates that the ridesharing sector, including Lyft, will continue to thrive by providing a cost-effective alternative to traditional car ownership. This is expected to support double-digit growth across multiple markets.
The investment firm highlights the potential of robotaxi technology to further drive down fares, offering additional growth opportunities for the company. Oppenheimer's projections are based on its adjusted 2025 estimates, suggesting that the current market price of Lyft shares might already reflect potential fare reductions.
Supporting its positive outlook, Oppenheimer cites a proprietary survey of 1,000 consumers, which aligns with its expectation of sustained growth in the rideshare landscape. This consumer data reinforces the firm's confidence in Lyft's future performance and its ability to capitalize on technological advancements and market trends.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 36 analysts, the average target price for Lyft Inc (LYFT, Financial) is $16.38 with a high estimate of $26.00 and a low estimate of $10.00. The average target implies an upside of 50.40% from the current price of $10.89. More detailed estimate data can be found on the Lyft Inc (LYFT) Forecast page.
Based on the consensus recommendation from 46 brokerage firms, Lyft Inc's (LYFT, Financial) average brokerage recommendation is currently 2.7, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Lyft Inc (LYFT, Financial) in one year is $17.22, suggesting a upside of 58.13% from the current price of $10.89. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Lyft Inc (LYFT) Summary page.
