Lyft shares swung between gains and losses on Tuesday after 10 Wall Street analysts initiated coverage of the recently public ride-hailing company.
shares swung between gains and losses on Tuesday as the quiet period for major Wall Street analysts ended and a slew of them initiaited overwhelmingly bullish coverage.
The timeframe known as a post-IPO"quiet period" exists to eliminate the perception of promotional activity around a company's public debut. Some equity analysts, typically from smaller firms, have"Our bull thesis is driven by the company's significant market opportunity, its history of innovation, and its path to profitability as the business scales," JPMorgan analysts led by Doug Anmuth, who see the stock going to $82, wrote in a note to clients on Tuesday.
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