Lyft surges on strong forecast, Q3 results beat
** Shares of ride-hail platform Lyft LYFT.O jumps 30.1% to $18.74 - set for best day since Feb. 14
** Revenue surges 31.5% to $1.52 bln in Q3, surpassing analysts' average estimate of $1.44 bln — LSEG
** Lyft forecasts gross bookings between $4.28 bln and $4.35 bln in Q4, above estimates of $4.23 bln
** Company sees current-quarter adjusted core earnings of $100 mln to $105 mln, higher than expectations of $85.1 mln
** "There would appear to be plenty of headroom for margin expansion over time – for a smaller but steadily growing #2 Rideshare marketplace in the duopolistic U.S. market " - D.A. Davidson
** At least 23 brokerages hiked PT for Lyft shares; stock now has a median PT of $18 and rating of "hold" - LSEG
** Including session's gains, stock is up ~25%
Reporting by Akash Sriram in Bengaluru
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