tech
This struggling rideshare stock could reap rewards of robotaxi boom, Rothschild & Co. says
Lyft stock is poised to climb on the autonomous vehicle trend, despite fears that the technology could disrupt its business, per Rothschild & Co. Redburn.
TL;DR
- Rothschild & Co. Redburn upgraded Lyft to 'buy' with a price target of $22, suggesting 54% upside.
- The firm believes Lyft can remain an aggregator of ride-hailing demand and partner with AV suppliers.
- Lyft's existing infrastructure, pricing, and regulatory experience provide an advantage over AV-focused competitors.
- More AV partners on Lyft's platform are expected to strengthen its long-term position.
- The upgrade goes against the Wall Street consensus, which is largely neutral on Lyft stock.