• support@capitalstreetfx.in     0124.400.4440

About Us

Capital Street Inter markets Limited is a Global Business Company (GBC1) incorporated and regulated by the Financial Services Commission, Mauritius. It is fully licensed and regulated by the FSC Mauritius, as a Full Services Investment Dealer....

Contact Info

  • 9th Floor, Ebene Tower, 52 Cybercity Ebene, Republic of Mauritius

  • +1-949-335-4314

  • support@capitalstreetfx.in

  • Sunday: Closed

LYFT’S SHARES RISE AFTER DEUTSCHE INITIATES COVERAGE WITH A BUY RATING - Capital Street FX

    • Home
    • Trade Ideas
    • LYFT’S SHARES RISE AFTER DEUTSCHE INITIATES COVERAGE WITH A BUY RATING
05-Sep
23:38 IST

Lyft Inc.’s stock is currently trading at 46.50-higher by 0.31% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 3.09%. The stock has pared some of its earlier gains after the opening bell.

Deutsche Bank initiated coverage of Lyft with a buy rating and a $70 price target. The investment bank’s price points to a potential upside of about 50% from the share’s previous closing price. Deutsche Bank also said that Lyft reported robust second-quarter results, and yet the share has been weak.

The ride-hailing company reported in August that it had lost $644.2 million in the second quarter. Lyft had lost $178.9 million a year earlier. Shares of the ride-hailing company have fallen more than 35% since its IPO in March on concerns about regulatory scrutiny, profitability and an early release from the IPO lockup.

On the technical front, the RSI is currently at 32.86% and suggests that the market can move in the upward direction. The current price is below the MA5 (47.32). The %K has crossed the %D from below to the upside at around 10% and suggests that the market can move in the upward direction.

 

TRADE SUGGESTION- LIMIT BUY AT 46.45 TAKE PROFIT AT 47.25 STOP LOSS AT 46.05

Leave a Reply

Your email address will not be published. Required fields are marked *

Hi Please share contact detail & write any comments below, our team will try to call soon.