Jefferies Lowers Lyft Price Target to $15 Amid Rideshare Slowdown

Jefferies lowered Lyft's price target to $15 from $15.50, citing slowing growth in the US rideshare business. The analysts estimated a 1% to 3% downside to 2026-2027 consensus bookings even if US growth stabilizes. Jefferies also pointed to potential headwinds from Waymo's expansion, estimating a 0.4% to 0.6% drag on Lyft's bookings growth in 2026-2027. Despite the downgrade, Jefferies retained a 'Hold' rating, citing Lyft's exposure to the growing rideshare market and its valuation discount to Uber.