Wedbush Warns of Lyft’s (LYFT) Vulnerability to AV Disruption, Overestimated Long-Term Valuation
Lyft Inc. (NASDAQ:LYFT) is one of the best low priced technology stocks to buy according to analysts. On December 19, Wedbush downgraded Lyft to Underperform from Neutral, while setting a price target of 20. Wedbush identified Lyft as highly vulnerable to AV disruption due to its exclusive focus on the US ridesharing market and lack of a diversified business model. The firm also argued that Lyft’s long-term valuation is being overestimated, as current market projections fa ...