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Fly News Breaks for March 4, 2020
LYFT
Mar 4, 2020 | 07:44 EDT
Lyft shares are down 31% from their recent high on February 11 but the company's fundamentals are strong, JPMorgan analyst Doug Anmuth tells investors in a research note. While there has been considerable concern around the impact of COVID-19, Lyft stated yesterday at an investor conference that rideshare remains strong and management reaffirmed its Q1 outlook, adds the analyst. Anmuth believes the shares are "extremely compelling" at current levels and he keeps an Overweight rating on Lyft with an $85 price target.
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