Fly News Breaks for March 3, 2020
Mar 3, 2020 | 08:34 EDT
Deutsche Bank analyst Lloyd Walmsley says that after finding what appeared to be Lyft (LYFT) discounting prices in Latin American, which Uber (UBER) also noted on its Q4 call, he's observing tighter pricing between Lyft and Uber both in early February price comparisons and again in early March. In addition, the analyst flags insider buying from Lyft's CFO, Brian Roberts, who filed open market purchases of 22,500 shares on February 20. Walmsley expects "some temporary impact" from the coronavirus, but he thinks the down 20% / 32% moves for Uber / Lyft since February 11 already prices in a "relatively high impact." The analyst reiterates Buy ratings on both Uber and Lyft and would add to positions after the primarily coronavirus-related pullbacks in both names, with a continued preference for Uber.
News For LYFT;UBER From the Last 2 Days