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Benzinga

Business

Anusuya Lahiri

Can Lyft's Waymo Deal Really Change The Ride-Hailing Game?

Lyft Waymo Uber Alphabet Inc autonomous vehicle

Ivano-frankivsk,,Ukraine,-,May,10,,2019:,Lyft,Logo,On,Smartphone

Lyft (NASDAQ:LYFT) is stepping into the autonomous vehicle (AV) spotlight with its first partnership with Alphabet Inc.’s (NASDAQ:GOOGL) (NASDAQ:GOOG) Waymo, aiming for profitable rides from day one while challenging Uber’s (NYSE:UBER) dominance and positioning itself for accelerated growth.

Benchmark analyst Daniel L. Kurnos maintained Lyft with a Buy and raised the price forecast from $20 to $26. Kurnos argued that the company’s first partnership with Waymo marks a breakthrough in the rideshare and autonomous vehicle space.

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