Lyft (LYFT): Downgraded to Neutral
Guggenheim cut Lyft (LYFT) to neutral from buy and lowered its price target to $16 from $22. The main worry is slower ride growth. The company reported a lower expected ride growth path for the second half of 2026 and for 2027, now about 10.6%, down from 12.4% before.
The current fundamentals are not bad. Q2 delivered 30 million active riders, 262 million rides, gross bookings up 23%, and adjusted EBITDA of 37%. This is not an earnings collapse. The downgrade rests on forward growth that no longer supports the earlier upside case. The stock has been selling off and is down 21% year to date, with no clear catalyst to push it higher.
Google / Alphabet (GOOGL): Target Raised to $450
A common worry is that AI will displace search. Google (GOOGL) search share fell to about 70% earlier this year, then recovered closer to 78%.
Evercore turned more bullish on Alphabet (GOOGL), raising its price target to $450 from $420 and keeping an outperform rating. Its catalyst is Google's proprietary search engine, still picked as the main search engine by most survey respondents. After falling in late 2024 and early 2025 to about 70%, share is now recovering. ChatGPT, Gemini, and Perplexity index many of Google's searches for their own outputs. So the case targets a comeback of Google's proprietary search algorithms as part of the AI ecosystem rather than a loser to it. Gemini also indexes Google's own search on a vertically integrated basis.
Salesforce (CRM): Multiple Target Hikes After Dreamforce
Following its Dreamforce conference, many analysts view Salesforce (CRM) positively. Canaccord and Guggenheim both raised their price target to $300 and kept buy ratings. Citi raised its target to $263 from $233 while keeping a neutral rating.
Canaccord is more confident that stronger bookings can turn into sustained organic growth. Guggenheim is more constructive that Salesforce's (CRM) strategic position in the AI agentic world can stay top tier in data and workflow AI. Citi sees improving fundamentals but stays cautious on how fast Agentforce can grow large enough to meaningfully reaccelerate the company's $46 billion in annualized revenue. It comes down to both growth speed and how much margin expansion shows up alongside that growth.
