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Investing.com -- In a note Wednesday, Scotiabank initiated coverage of the ride-hailing and on-demand delivery sector, favoring scaled leaders Uber and DoorDash over Lyft.
Analyst Nat Schindler started Uber and DoorDash at Sector Outperform, with price targets of $100 and $275, respectively, and Lyft at Sector Perform with a $17 target.
The analyst said the industries are large and growing, driven by a long-term shift toward convenience and away from private car ownership, and have matured into rational, consolidated structures that support pricing and capital discipline.
Schindler argued that subscription programs, rather than logistics or pricing, separate the winners.