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Monday, 02/01/2021 7:26:38 PM

Monday, February 01, 2021 7:26:38 PM

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Wells Fargo & Company raised Lyft price target on the stock from $48.00 to $56.00
By: MarketBeat | January 29, 2021

Lyft, Inc. (NASDAQ:LYFT)'s share price rose 6% during mid-day trading on Thursday after Wells Fargo & Company raised their price target on the stock from $48.00 to $56.00. Wells Fargo & Company currently has an overweight rating on the stock. Lyft traded as high as $46.86 and last traded at $46.22. Approximately 6,462,398 shares were traded during trading, an increase of 2% from the average daily volume of 6,334,050 shares. The stock had previously closed at $43.62.

Several other equities research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price target on Lyft from $52.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, November 5th. Barclays increased their price target on shares of Lyft from $33.00 to $40.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 11th. JPMorgan Chase & Co. upped their price objective on Lyft from $46.00 to $64.00 and gave the company an "overweight" rating in a report on Wednesday, December 16th. They noted that the move was a valuation call. Morgan Stanley lifted their target price on Lyft from $34.00 to $55.00 and gave the company an "equal weight" rating in a research report on Monday, January 11th. Finally, BTIG Research boosted their price objective on shares of Lyft from $50.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, January 7th. Ten equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has an average rating of "Buy" and a consensus price target of $51.18.

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