Lyft Has Plenty Of Upside Potential Starting 2023 Near All-Time Lows
Summary
- Lyft is heavily discounted to peers and offers as much as 60% upside to trade closer alongside Uber in our view.
- Lyft is closer to long-term continual profitability than competitors and trades near all-time lows.
- The company continues to operate within Uber's shadow and risk of losing market share is ever present.
- Therefore, it would be wise in our view to hedge a bet in Lyft with a small investment in Uber as well.
Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in LYFT, UBER over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.