Lyft Inc received some badly needed support on Tuesday, as analysts at banks tha...
- Lyft Inc received some badly needed support on Tuesday, as analysts at banks that had worked on its initial public offering urged clients to buy the ride-hailing company’s beleaguered shares.
KeyBank appeared to be the only bank launching coverage on Tuesday that did not recommend buying Lyft, instead assigning it a “sector weight” rating and warning of slowing growth. Both companies have warned they may never become profitable, making it difficult for investors to estimate how much they might be worth.
Despite regulations that separate investment banking and research operations, it is rare for analysts at banks that have participated in an IPO to recommend selling that stock when they issue their initial opinions.Due to its lack of profitability and dual class share structure guaranteeing insiders control of the company, Lyft is not eligible to be included in the benchmark S&P 500 stock index.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pinterest valued at $12.7 billion in IPO, sign of tech demand after Lyft strugglesPinterest Inc's initial public offering set the online scrapbook company&0...
Read more »
Lyft underwriters hail promising future as Uber loomsLyft Inc picked up upbeat ratings from the brokerage arms of its Wall Street und...
Read more »
Analysts at Lyft underwriters say buy falling stockWall Street's public opinion of Lyft Inc took a major turn for the positive...
Read more »
Wall Street calls Tesla's autonomous plan 'half-baked,' doubts it can beat Lyft, Nvidia and GoogleTesla CEO Elon Musk touted robotaxis by 2020 on Tesla Autonomy Investor Day, and Wall Street's reaction? Not impressed.
Read more »
The first major analyst calls on Lyft are out and they're bullish: 'Future of human transportation'The first round of Lyft analyst notes is bullish on the newly public company as brokerages clamor to recommend the stock.
Read more »
Via CEO Daniel Ramot on ridesharing industry and Uber, Lyft IPOsLyft and Uber's IPOs show that ridesharing is a 'very large market' with multiple solutions for passengers, says Via CEO Daniel Ramot.
Read more »
Lyft might eventually make money — but it could take 7 years to get there, analyst saysOne analyst who recently initiated Lyft coverage said it could turn a profit at some point, estimating a seven-year time horizon is likely.
Read more »
Gig-economy workers like Uber and Lyft drivers may be skewing low unemployment numbersWage growth has slowed because unemployment numbers do not account for gig economy workers, according to a Federal Reserve regional bank.
Read more »
4/20 specials: 'High' priority list of munchie deals at Pizza Hut, Carl's Jr., Lyft, moreSaturday Is 4/20, aka Weed Day, and that means specials for cannabis fans across the country. Pizza Hut, Wing Zone, Lyft and Boston Market have deals.
Read more »
This is how Lyft, Ben & Jerry’s and Pizza Hut are celebrating 4/20The unofficial cannabis holiday is getting legitimized by mainstream brands.
Read more »