Guggenheim Securities downgraded Lyft to Neutral from Buy and cut its price target to $16 from $22, citing lower ride-volume forecasts for the second half of 2027 and a limited sentiment catalyst path ahead. Analyst Michael Morris lowered his second-half 2026 ride-growth forecast to 10.6% from 12.4%, below the 11.9% consensus cited in the note, and cut his 2027 ride-growth forecast to 10.3% from 11.4%, versus a consensus of 10.8%. Morris said he supports Lyft's international expansion and integration efforts but added that the lack of disclosed impact drives uncertainty as the company laps acquisitions, including FREENOW, while pointing to easing comparisons in North America and outsized growth in Canada driven partly by geographic expansion and a DoorDash partnership. Guggenheim said it was encouraged by the recent Waymo Nashville launch but does not anticipate meaningful near-term expansion as the platform focuses on operational learnings, and it lowered its 2027 buyback forecast to $500 million from $548 million to enable M&A flexibility. The $16 price target is based on 8 times 2027 estimated EV/OIBDA, down from 11 times previously, reflecting tempered Ride growth enthusiasm, particularly in the U.S.
LYFT IncGuggenheim downgraded Lyft to Neutral and cut its price target to $16 from $22 on lowered ride-growth forecasts.
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