UBS analyst Stephen Ju has increased the price target for Lyft (LYFT) to $13 from $12 while keeping a Neutral rating on the shares.
This adjustment is based on stable quarter-over-quarter usage trends and minimal market share shifts, as indicated by Sensor Tower data.
The revision in sales estimates is primarily due to a more favorable currency environment.
UBS notes that investors are likely expecting unit growth at or above the mid-teens percentage range following positive remarks from Lyft at a conference.