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Goldman Sachs Upgrades $LYFT to Buy from Neutral, Raises PT to $20 from $19
Analyst comments: "In its Q1’25 earnings report, Lyft framed a few key themes: 1) continued momentum with double-digit Gross Bookings growth led by rides accelerating to +16% year-over-year in Q1, supported by a rapid cadence of product innovation in consumer offerings and rising driver supply affinity enhancing the forward growth trajectory, with rides guided to another quarter of mid-teens growth in Q2; 2) adjusted EBITDA once again exceeded the high end of guidance with a solid 10% incremental margin (as a percentage of Gross Bookings), despite lower-than-expected sales and marketing spend, and topline momentum remained strong; and 3) an increased share repurchase authorization (now $750 million), with plans to deploy $500 million in the next 12 months, likely reducing share count. While short-term debates may continue around rideshare pricing, market share fluctuations, positioning relative to the autonomous vehicle theme, and consumer discretionary trends, we believe shares are currently dislocated from Lyft’s earnings power over the next 2–3 years. We upgrade the stock to Buy from Neutral and raise our 12-month price target to $20 from $19."
Analyst: Eric Sheridan
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Goldman Sachs Upgrades $LYFT to Buy from Neutral, Raises PT to $20 from $19
Analyst comments: "In its Q1’25 earnings report, Lyft framed a few key themes: 1) continued momentum with double-digit Gross Bookings growth led by rides accelerating to +16% year-over-year in Q1, supported by a rapid cadence of product innovation in consumer offerings and rising driver supply affinity enhancing the forward growth trajectory, with rides guided to another quarter of mid-teens growth in Q2; 2) adjusted EBITDA once again exceeded the high end of guidance with a solid 10% incremental margin (as a percentage of Gross Bookings), despite lower-than-expected sales and marketing spend, and topline momentum remained strong; and 3) an increased share repurchase authorization (now $750 million), with plans to deploy $500 million in the next 12 months, likely reducing share count. While short-term debates may continue around rideshare pricing, market share fluctuations, positioning relative to the autonomous vehicle theme, and consumer discretionary trends, we believe shares are currently dislocated from Lyft’s earnings power over the next 2–3 years. We upgrade the stock to Buy from Neutral and raise our 12-month price target to $20 from $19."
Analyst: Eric Sheridan
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CoreWeave $CRWV is prepping a new $1.5B debt raise—possibly including a high-yield bond—as it looks to refinance some of its $8B debt load and lower borrowing costs. https://t.co/mXDSopzfm1
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CoreWeave $CRWV is prepping a new $1.5B debt raise—possibly including a high-yield bond—as it looks to refinance some of its $8B debt load and lower borrowing costs. https://t.co/mXDSopzfm1
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PRESIDENT TRUMP: CHINA SHOULD OPEN UP ITS MARKET TO USA — WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!! https://t.co/8E8pcmkPhP
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PRESIDENT TRUMP: CHINA SHOULD OPEN UP ITS MARKET TO USA — WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!! https://t.co/8E8pcmkPhP
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TRUMP: “Would graciously accept” a tiny tax hike on the rich — possibly taking the top rate back to 39.6%, per Bloomberg. Says it’s to help lower and middle-income workers, but warns GOP not to give Democrats a “Read my lips” moment. “I’m OK if they do,” he adds. https://t.co/JMJuVqiM2v
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TRUMP: “Would graciously accept” a tiny tax hike on the rich — possibly taking the top rate back to 39.6%, per Bloomberg. Says it’s to help lower and middle-income workers, but warns GOP not to give Democrats a “Read my lips” moment. “I’m OK if they do,” he adds. https://t.co/JMJuVqiM2v
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THE WHITE HOUSE JUST PUBLISHED THE TERMS OF THE U.S.-UK ECONOMIC PROSPERITY DEAL:
The UK will offer a 13,000 mt duty-free beef quota and 1.4B liters for U.S. ethanol. The U.S. will open a 100,000 vehicle quota at 10% tariffs for UK cars and plans tariff cuts on steel, aluminum, and pharma pending reviews. Both sides will negotiate digital trade rules, tackle non-tariff barriers, and align on export controls. The deal aims to reduce barriers, secure supply chains, and expand market access across key sectors like autos, agriculture, and tech.
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THE WHITE HOUSE JUST PUBLISHED THE TERMS OF THE U.S.-UK ECONOMIC PROSPERITY DEAL:
The UK will offer a 13,000 mt duty-free beef quota and 1.4B liters for U.S. ethanol. The U.S. will open a 100,000 vehicle quota at 10% tariffs for UK cars and plans tariff cuts on steel, aluminum, and pharma pending reviews. Both sides will negotiate digital trade rules, tackle non-tariff barriers, and align on export controls. The deal aims to reduce barriers, secure supply chains, and expand market access across key sectors like autos, agriculture, and tech.
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