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BMO Capital lowered the firm’s price target on Lyft (LYFT) to $15 from $18 and keeps a Market Perform rating on the shares. The company’s Q1 Bookings guidance growth of 10%-14% is below its mid-teens 3-year outlook while the price erosion exiting 2024 continues into Q1, the analyst tells investors in a research note. Lyft’s termination of Delta (DAL) SkyMiles partnership is also a 1%-2% headwind to Gross Bookings, BMO adds.
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