The Ratings Game: Lyft gets its first buy rating ahead of IPO that’s expected to price next week

Lyft Inc. ‘s initial public offering will give investors their first chance to invest in a ride-sharing service that’s growing fast and capturing significant market share from its bigger rival Uber.

That’s the view of D.A. Davidson analyst Tom White in a note to clients initiating coverage of the stock with a buy rating and price target of $75, or 10% above the top end of the company’s IPO price range of $62 to $68. Lyft is expected to price the deal next week and it’s already oversubscribed, according to the New York Post.

Lyft has grown its market share to 39% from 22% in the past two years, benefiting from the public relations and operational troubles at Uber, which is also planning to go public this year.

>>> Original Source <<<