US Top Rating Updates on 9/26: LYFT, DOCU, WTW, BUD and More

UBS analyst Lloyd Walmsley downgraded $Lyft Inc(LYFT.US)$ to Neutral from Buy with a price target of $16, down from $50. According to UBS data from drivers who "multi-app", $Uber Technologies(UBER.US)$ has much greater share of the market, its onboarding process is faster, and drivers have more earnings opportunities, the analyst tells investors in a research note.

Needham analyst Ryan MacDonald upgraded $Chegg(CHGG.US)$ to Buy from Hold with a $28 price target. Based on his analysis of Chegg's Q3 and FY22 guidance assumptions, as well as his own forecast for Fall 2022 enrollment outlook, MacDonald believes that the company is positioned well to report upside to "conservative" expectations.

SMBC Nikko analyst Andrew Bauch downgraded $DLocal(DLO.US)$ to Underperform from Neutral with a price target of $22, down from $28. The analyst believes DLocal remains well positioned to grow above peers through the remainder of 2022 and into 2023, but he struggles to "see a path to material upside to estimates over said timeframe."