$LYFT

Lyft (LYFT) shares dropped 2.2% after Guggenheim downgraded the stock to Neutral and cut its price target to $16 from $22. The analyst cited lower second-half 2027 volume forecasts and uncertainty around recent acquisitions. CEO David Risher expects similar growth trends to the first half, while a CFO transition may temper investor confidence.

Citizens upgraded J.B. Hunt (JBHT) to Outperform with a $300 target, citing a 18% pullback. Goldman upgraded Sunbelt Rentals (SUNB) to Buy with a $93 target, citing strong Q1 results. Macquarie upgraded Trip.com (TCOM) to Outperform with a $53.20 target, citing Q2 earnings. Citi upgraded Haemonetics (HAE) to Buy with a $123 target, citing a supply agreement. BofA upgraded HawkEye 360 (HAWK) to Buy with a $23 target, citing strong growth. Guggenheim downgraded Lyft (LYFT) to Neutral with a $16 ta

Analysts made several calls on Thursday. Goldman upgraded Sunbelt citing growth improvement. Wolfe reiterated Tesla as peer perform. Bernstein downgraded Palo Alto Networks, Okta, and SentinelOne due to valuation. Citizens upgraded JBHT to market outperform. Daiwa reiterated Nvidia as outperform but lowered its price target to $245. RBC initiated Kraft Heinz as outperform. Wells Fargo initiated several bitcoin miners as overweight. Barclays reinstated Paramount Skydance as underweight and Warner

Analysts updated price targets for several companies. Guggenheim cut LYFT's target to $16, Barclays raised AMRX's to $20, Baird lowered JBHT's to $290, Canaccord boosted CRM's to $300, Keybanc increased APPF's to $280, Canaccord cut FLNC's to $15, Bernstein raised CRWD's to $132, Cantor Fitzgerald lowered ON's to $90, Morgan Stanley increased CIEN's to $450, and BTIG raised OKTA's to $219.

Volkswagen's search for investors in its autonomous driving unit, ADMT, collapsed as Uber and Lyft withdrew. The companies disagreed on funding and terms. Volkswagen may now seek a tech partner like Wayve or Nvidia. The unit needs €1 billion more to reach commercial readiness, risking a significant writedown if withdrawn.

The California Public Employment Relations Board recognized the California Rideshare Union, allowing Uber and Lyft drivers to collectively bargain. The union, backed by over 30% of active drivers, will negotiate pay, benefits, and working conditions. California is the third state to permit such unions under AB 1340.

U.S. corporations spent at least $1.7B on union-busting in 2025, according to a LaborLab report. Amazon led with $26.64M spent. The report highlights loopholes in labor laws that allow companies to avoid full disclosure of these expenses. Top union-busting firms include Littler Mendelson, Ogletree-Deakins, and Jackson Lewis, earning millions from such services.

Lyft launched commercial robotaxi services in Nashville with Waymo, marking a shift to third-party autonomous fleets. Flexdrive manages the fleet, introducing higher capital costs. Lyft's stock fell 8.2% on the news. The company also announced a CFO transition, with Erin Brewer departing and Michael Brous taking over. Investors are assessing the impact on profitability and the risks of the new strategy.

Lyft has partnered with Waymo to offer robotaxi services in Nashville, marking its first commercial entry into driverless vehicle operations. Lyft handles fleet services through its subsidiary Flexdrive. The company plans to expand AV services internationally, focusing on markets like London. Lyft's executive VP of growth, Jeremy Bird, hinted at further diversification in 2024. Lyft's involvement in AVs follows its 2021 sale of its autonomous vehicle unit to Toyota's Woven Planet Holdings for $5

A former Lyft driver, Zkaria Mahmmd Al Majzoub, convicted of rape and kidnapping, requested a new trial. The victim sued Lyft, alleging negligence in driver screening and safety measures. The court scheduled an evidentiary hearing for Oct. 29 and sentencing for Nov. 4. Lyft has not been found liable.