DoorDash and Lyft have seen a significant uptick in their stock performance following an upgrade by RBC Capital, amidst news of a $1B buyout bid for $M. The analyst highlighted the potential for a strategic partnership between the two companies, which could drive significant incremental orders for DoorDash and enhance its loyalty program, potentially putting it on equal footing with Uber. This potential collaboration is seen as a strategic move to unite against a common competitor. Following the upgrade, DoorDash's stock price surged over 20% from its post-earnings low, reaching a new high since January 20, 2022, closing up 3.9% at $132.4. The analyst set a new price target for DoorDash at $175.
$DASH closed up 3.9% to $132.4, a new high since 1/20/22. 👇🏼 The news was that RBC Capital analyst upgraded both $LYFT and $DASH to outperform today as reported by Yahoo. The analyst also discussed how a potential partnership between the two companies can benefit both.… https://t.co/X2RPGwgla3 https://t.co/Y7MxSJ7S3t
DoorDash, Lyft Shares Rally As Analyst Touts Potential To Unite Against ‘Common’ Enemy https://t.co/YzTmJcJoOb https://t.co/u4SHLy0sF7
Lyft and DoorDash Should Partner for Growth, Analyst Says https://t.co/9oZcYbmkNb
$DASH - upgraded at RBC with a whopping bump to $175 on the price target. Shares are up over 20% since the post-earnings low Market Rebellion analyst Bryan McCormick on Door Dash For more technical analysis, join the Rebellion: https://t.co/1Ui1h0X9zx https://t.co/Jrq3EJbjLw
HAPPENING NOW •$M jumps on $1B buyout bid •RBC Upgrades $DASH and $LYFT •$T to present at $MS @TheDomino joins to break down the morning movers https://t.co/9cZvYcg643
$DASH $LYFT DoorDash’s potential to establish partnerships, particularly with ridesharing service Lyft, could “drive significant incremental orders” and put its loyalty program on closer equal footing with Uber. He sees a potential scenario where DashPass subscribers would…