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TechStock Radar
E-mail: Rob@techstockprospector.com
Technorati
May 2020
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Monday, May 4, 2020, 10:01 AM — by Rob DeFrancesco, TechStock Radar
SunTrust Lowers Lyft Target

SunTrust lowers its Lyft (LYFT, $27.53) price target to $45 from $74, saying the company is seeing sustained demand pressures so far in Q2. There’s also a lack of visibility as to when the economy reopens in a material way, says the firm. SunTrust reduces its 2020 revenue forecast to $2.9 billion from $4.7 billion, below the consensus of $3.41 billion. Last week, Lyft announced it was laying off 17% of its workforce due to COVID-19.

   
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