One of the most highly anticipated IPOs is coming this week: Lyft. One analyst is ready for the ride.
div > div.group > p:first-child"> One analyst is ready for the ride. D.A. Davidson's Tom White is bullish with a buy rating and $75 price target on the ride-hailing company.
"It would depend on whether any new information came out perhaps over the course of the roadshow that would cause us to revisit our financial forecasts or potentially if we get a sense that investors — either because of the growth prospects of the company or maybe just supply-demand dynamic for shares — potentially reassess the multiple," White said Tuesday on CNBC's"Trading Nation.
However, it is still dwarfed by its larger competitor, Uber, which has a valuation of roughly $120 billion ahead of its planned initial public offering later this year. "We looked more at the taxi and limousine industry that's being disrupted," he said."That's the kind of analysis we've done on sort of a market-by-market basis to try and come up with what we think is kind of a near-term revenue opportunity of about $105 billion in the U.S," he said.
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