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Lyft's IPO banks give troubled stock a flurry of 'buy' ratings

April 23, 2019 by  
Filed under News

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. Following the required 25-day wait for deal underwriters to issue an investment opinion following an IPO, at least 10 of the banks that brought Lyft public gave positive recommendations on a stock that has slumped 30 percent from its opening price on March 29, its first day of trading.


Source: Reuters Business News

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