Jefferies analyst Yaron Kinar raised the firm’s price target on Lemonade (LMND) to $20 from $17 and keeps an Underperform rating on the shares. The firm raised top line estimates, but lowered its adjusted EBITDA views, after the investor day that highlighted growth and expansion to auto. The firm, which notes that its raised target represents 61% downside, says the new target reflects a valuation roll-forward and honing of its valuation methodology.
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Read More on LMND:
- Lemonade put volume heavy and directionally bearish
- Lemonade price target raised to $60 from $40 at JMP Securities
- Lemonade price target raised to $15 from $13 at BMO Capital
- Lemonade price target raised to $44 from $25 at Piper Sandler
- Lemonade rises 15.8%
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
