Lyft Stock Price Target Raised to $20 by Royal Bank Of Canada

Royal Bank Of Canada (RBC) has raised its price target for Lyft's stock to $20.00 from $18.00, citing a potential upside of 15.05% from the current price.

This is not the first time RBC has increased its price target for Lyft. The firm presently has an 'outperform' rating on the ride-sharing company's stock.

Lyft's stock traded up $1.08 on Friday, reaching $17.38, with 17,027,811 shares of the company traded hands, compared to its average volume of 15,152,576.

The firm has a market cap of $6.60 billion, a P/E ratio of 2.54, and a beta of 1.80. Lyft's one year high is $25.54, while its low is $12.46.