From Dow Jones & Company:

Uber Technologies Inc. and Lyft Inc. face a cloudy future, with Nomura analysts downgrading Uber to neutral from buy and Lyft to a sell rating. Uber’s stock closed 2023 with a 142% gain, while Lyft saw a 34.8% increase. Uber managed to grow this year, occasionally turning a profit and consolidating its position in U.S. and Canadian ride-sharing markets. Meanwhile, Lyft stumbled in taking advantage of the travel rebound after pandemic restrictions eased. The analysts said it’s already priced in, and Uber is fairly valued at the current price, and that Lyft’s subscale market positioning and lack of cross-selling opportunities compared to Uber could constrain its growth.



Read more: Uber and Lyft shares rallied in 2023 but may not go much higher, analysts say