Latest news with #Mobileye-powered
CNBC
24-06-2025
- Automotive
- CNBC
TD Cowen upgrades this ride-sharing stock, calls it 'best smidcap idea' of 2025
A number of catalysts could lead to more gains for Lyft , according to TD Cowen. Analyst John Blackledge upgraded the ride-sharing stock to buy from hold, naming it his "best smidcap idea" for 2025. The analyst also upped his price target by $5 to $21, which implies more than 40% upside from Monday's close. "We see multiple growth levers ahead amid strong execution from the current [management] team, who has refocused the company on 'customer obsession' and has rolled out multiple innovations to improve experience for riders & drivers (most recently Price Lock)," Blackledge wrote on Tuesday. Shares were up more than 5% in the premarket following the call. The stock has also gained nearly 16% this year and more than 22% in the past three months, outpacing the S & P 500 in both timeframes. LYFT 3M mountain LYFT, 3-month Blackledge believes that Lyft's increasing focus on "tier 2" cities such as Charlotte and Indianapolis and the opportunity provided by the company's acquisition of European taxi app FreeNow should help spur gains ahead. In addition, he cited the company's product innovation – like its Price Lock feature, which allows customers to secure a consistent daily price for specific routes – and its partnerships with other companies such as DoorDash as catalysts for growth. Beyond those drivers, Blackledge believes investors underappreciate the opportunity that autonomous vehicles provide for Lyft, as the company is on pace to launch AVs this summer in Atlanta through its May Mobility partnership. It's also set to launch Mobileye-powered AVs in Dallas next year through its partnership with Marubeni. "We think autonomous vehicles (AVs) should expand rideshare [total addressable market] over the long-term, helping to drive new use cases such as serving riders who would prefer a driver-less trip," the analyst wrote. "Lyft is well positioned with FlexDrive (~14K cars on balance sheet) as AVs scale and require fleet [management] partners." To be sure, most analysts are on the sidelines when it comes to Lyft. Of the 48 covering the stock, 32 rate it as neutral.
Axios
12-02-2025
- Automotive
- Axios
Lyft will offer self-driving taxis in Dallas as soon as 2026
Lyft plans to add Mobileye-powered self-driving robotaxis to its ride hailing app starting in Dallas as early as next year. Why it matters: Like its main rival Uber, Lyft is embracing robotaxis without taking on the financial burden to develop the technology itself. While it briefly flirted with a plan to run its own robotaxi service, Lyft now plans to let partners deploy autonomous vehicles on its network. Driving the news: The announcement builds on a partnership with Mobileye announced last November. Robotaxis with Mobileye's autonomous technology will debut in Dallas "as soon as 2026," Lyft said, leaving flexibility on the timing. The vehicles will be owned by Tokyo-based auto and fleet financing firm Marubeni Corp., the newest partner in the collaboration. What's next: After Dallas, Lyft and Mobileye plan to add "thousands of vehicles" in multiple cities, Lyft CEO David Risher posted on X. Between the lines: Mobileye specializes in self-driving software and hardware; Lyft is a network operator. Neither wants the cost or responsibility for owning and maintaining a fleet of robotaxis. That's where Marubeni comes in. It is one of Japan's largest international companies, and manages more than 900,000 vehicles through various subsidiaries and joint ventures. What to watch: Lyft didn't say what type of vehicles will be used for the robotaxis. Mobileye has already been testing fully self-driving Volkswagen ID. Buzz minivans in Austin, Tex. Its camera-based advanced driver assistance technology is widely used by many automakers, including Audi, Volkswagen, Nissan, Ford, General Motors and others. The big picture: Lyft is trying to catch up to Uber, which has partnerships with an array of AV companies, including Waymo, the market leader. Lyft's early misfortune was partnering with AV companies that folded or retrenched, including Argo AI and Motional. Besides its Mobileye deal, Lyft announced plans to launch AVs with May Mobility in Atlanta this year.
