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Fly News Breaks for December 16, 2019
LYFT, HTZ, CAR
Dec 16, 2019 | 08:46 EDT
Deutsche Bank analyst Lloyd Walmsley does do not think Lyft (LYFT) is on the cusp of entering the car rental business at scale. Last week's blog post got more attention than it deserves given that it is still a small test and Lyft has no plans to scale it anytime soon, Walmsley tells investors in a research note. The only difference between the existing program and the announcement in the blog is that the rental functionality will be native in-app, adds the analyst. Further, Walmsley does not believe the company intends to damage its relationship with Hertz (HTZ) and Avis Budget (CAR). The analyst has a Buy rating on Lyft shares.