From Yahoo Finance: 2025-04-03 14:55:00

Lyft (LYFT) shares dropped 11% to $11.50 after Bank of America gave them a double downgrade, citing concerns about autonomous vehicles and pricing headwinds. The analysts changed their rating to “underperform” from “buy” and lowered the price target to $10.50 from $17.50, reflecting a lack of near-term upside.

Despite Bank of America’s bearish outlook, most analysts have neutral ratings on Lyft’s shares, with a mean target above $16. Lyft’s mixed fourth-quarter results in mid-February may have contributed to the downgrade. Shares fell as markets were under pressure from trade-policy concerns, with Uber (UBER) also seeing a 6% drop.

Investopedia reported on the Lyft stock skid after the double downgrade by Bank of America, highlighting the company’s struggles with autonomous vehicles and pricing challenges.



Read more at Yahoo Finance: Lyft Stock Skids After Analysts’ Double Downgrade