.July 26, 2024 05:37:00 AM

Redburn-Atlantic analysts have initiated coverage on DoorDash (NASDAQ:DASH) with a Buy rating and a price target of $170, indicating a potential upside of 66% from the current price. They highlight DoorDash’s strong market position, investment capacity, and track record in gaining market share. The analysts believe DoorDash is set to achieve industry-leading GTV growth and exceed consensus expectations for adjusted EBITDA. Despite trading in line with peers, DoorDash’s valuation appears attractive, reinforcing the analysts’ optimistic outlook for the company’s future performance.