Peer pressure: All eyes on Lyft after Uber forecasts profit

HC Liquidating

11/02/2020 17:16

** Shares of Lyft Inc  LYFT.O  trading near flat on Tues,
with investors looking for a strong qtrly report after the bell
following larger rival Uber's  UBER.O  recent prediction that it
will achieve a measure of profitability this year
    ** LYFT up almost 14% since UBER said on Thurs it would have
positive adj EBITDA in Q4 of 2020, a year ahead of a previous
target  urn:newsml:reuters.com:*:nL1N2A71T6
    ** "UBER stepped it up last week with a 4Q20 profit
objective. The question now is whether LYFT can, will or should
match that target," Guggenheim analyst Jake Fuller wrote in a
recent client note
    ** Fuller says he's okay with LYFT focusing more on growing
market share and putting off EBITDA profitability into 2021 
    ** A lack of profits at LYFT and UBER have kept many
investors away from the cos since their public listings last
year
    ** Even after its recent rally, LYFT down 25% from its IPO
last Mar
    ** Analysts on avg expect LYFT qtrly rev up 47% yr/yr to
$984 mln and an adj loss of $407 mln, or $1.39 per share,
according to Refinitiv 

 (Reporting by Noel Randewich)
 ((noel.randewich@tr.com; (415) 677 2542; Reuters Messaging:
Twitter: @randewich))