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Fly News Breaks for March 2, 2020
LYFT
Mar 2, 2020 | 07:58 EDT
Benchmark analyst Michael Ward upgraded Lyft to Hold from Sell. While the company's revenue growth rate has been declining steadily since 2016, and he expects the rate to continue to move lower, the stock's valuation has largely corrected itself following the recent selloff, he tells investors. He is also still concerned that insurance outlays will likely continue to grow at a faster rate than revenue, Ward noted.
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