- Lyft Inc received some badly needed support on Tuesday, as analysts at banks that had worked on its initial public offering urged clients to buy the ride-hailing company’s beleaguered shares.
KeyBank appeared to be the only bank launching coverage on Tuesday that did not recommend buying Lyft, instead assigning it a “sector weight” rating and warning of slowing growth. Both companies have warned they may never become profitable, making it difficult for investors to estimate how much they might be worth.
Despite regulations that separate investment banking and research operations, it is rare for analysts at banks that have participated in an IPO to recommend selling that stock when they issue their initial opinions.Due to its lack of profitability and dual class share structure guaranteeing insiders control of the company, Lyft is not eligible to be included in the benchmark S&P 500 stock index.
Self serving? Conflict of interest? What is new on Wall Street! Forget objectivity everywhere incl Trump's U.S foreign policy! Failed state USA!
Good lord just stop
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