Lyft Inc picked up upbeat ratings from the brokerage arms of its Wall Street und...
- Lyft Inc picked up upbeat ratings from the brokerage arms of its Wall Street underwriters on Tuesday, allowing the ride-hailing company to recover some of the damage done to its share price in the run-up to the debut of larger rival Uber Technologies Inc.
At least seven brokerages including Jefferies, JP Morgan and Piper Jaffray initiated coverage of Lyft with “buy” or equivalent to “buy” ratings, even as the stock languishes more than 15 percent below the price set in its heavily-hyped IPO last month. Still, brokerage analysts remained confident of Lyft’s long-term fortunes, despite the competition from Uber both on U.S. streets and among stock market investors.
More than 24 brokerages helped underwrite Lyft’s IPO. Industry standards require analysts from those firms to wait until a 25-day cooling off period has ended following the IPO before launching coverage.
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.
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 »
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 »
Uber, Lyft IPOs May Lead to Higher FaresThe initial public offerings of Uber and rival Lyft stand to enrich early investors. But for customers of these ride-hailing services, the IPOs might eventually cost them money.
Read more »
How Do Uber And Lyft Compare In Terms Of Key Revenue And Valuation Metrics?Ride sharing behemoth Uber recent filed its S-1 as it looks to go public, following rival Lyft which listed in March. In this analysis, we compare Uber and Lyft’s key operating and financial metrics (for 2018).
Read more »
Uber says it fixed electric bikes that had similar problems to bikes Lyft recalledUber acknowledged Monday that it modified some of its electric bikes recently after the company encountered a braking problem similar to the one that prompted rival Lyft to recall its own electric bikes in several cities over the weekend.
Read more »
Uber nears investment deal for self-driving car unit: WSJUber Technologies Inc is nearing a deal with a group, including SoftBank Group C...
Read more »
Uber unveils safety measures after college student's murderUber Technologies Inc said it was rolling out new safety features to help riders...
Read more »
What Uber's IPO Reveals About Uber Freight's Marketplace Opportunity Is Highly MisleadingUber has a very powerful brand name. It undoubtedly contributed to Uber Freight's growth. But if this was a stand-alone prospectus for just Uber Freight, and if the Freight division did not carry the name 'Uber,' who would be foolish enough to invest in them?
Read more »