- Goldman Sachs analyst Eric Sheridan initiated coverage of the U.S. internet sector with a “selectively positive view.”
- Sheridan rated Uber Technologies (NYSE:UBER) with a Buy and $64 price target, implying a 60.4% upside.
- Sheridan also initiated coverage on Lyft Inc (NASDAQ:LYFT), with a Buy and $64 price target, suggesting a 28% upside.
- The analyst initiated coverage of Facebook Inc (NASDAQ:FB) with a Buy rating and $455 price target, signifying a 20.2% upside.
- Sheridan initiated coverage of Snap Inc (NYSE:SNAP) with a Buy rating and $90 price target, suggesting a 20.8% upside.
- Sheridan initiated coverage of Pinterest (NYSE:PINS) with a Neutral rating and $57 price target, implying a 5.1% upside.
- Sheridan noted that the industry still has “ample opportunities” for secular revenue growth and increased operating efficiencies on the back of building scale in the coming years.
- The analyst sees Uber as the “next large-cap platform ecosystem” in his coverage universe, given its user and economic capture scale around a common theme of local transportation and e-commerce.
- Price Action: LYFT shares traded higher by 3.44% at $51.73, and UBER shares traded higher by 2.12% at $40.74 in the market session on the last check Monday.
La-Z-Boy Sees Q1 2023 Delivered Sales Up 7%-10%
Outlook
Bob Lucian, Chief Financial Officer of La-Z-Boy Incorporated, said, "We are pleased with our strong fourth quarter execution, as we leverage our manufacturing investments to service our large
