Cowen

Lyft executives confident in rebound

Lyft expects turnaround in Q2

Despite no real improvement in active riders, and a revenue decline year-over-year due in large part to the toll the COVID-19 pandemic has taken on the ridesharing business, analysts responded positively to Lyft’s (NASDAQ: LYFT) earnings results on Tuesday.

Wedbush raised Lyft’s price target to $72 from $53. Cowen analyst John Blackledge also boosted the price to $72.

“Last night LYFT delivered better than expected 4Q results, which were another major step in the right direction on the recovery...

https://www.freightwaves.com/news/lyft-executives-confident-in-rebound

Rail stakeholders consider pressing for tax subsidies to scrap railcars

A photograph of two tank cars in a rail yard.

Industry stakeholders are considering options to relieve the railcar supply glut amid the continued downward trend in U.S. carload volumes.

Those options include discussions on whether to push for federal tax incentives that would allow companies to receive tax subsidies for scrapping older and idled railcars, according to a July 29 research note from investment firm Cowen.

“A resuscitation of a long-futile push for railcar scrappage tax subsidies may be underway. While the effort is in its...

https://s29755.pcdn.co/news/rail-stakeholders-consider-pressing-for-tax-subsidies-to-scrap-railcars

Electric truck story stocks drive market enthusiasm

Hyliion Class 8 hybrid truck

Talk about a V-shaped recovery. 

Shares of electrification startup Nikola Corp. (NASDAQ: NKLA) experienced the bounce back this week that few still predict for the nation’s economy following the COVID-19 pandemic.

Storytelling, more than products and revenue, is stoking market enthusiasm for electric trucks, including Workhorse Group (NASDAQ: WKHS). The early stage maker of electric delivery vans is attracting heady interest because of a possible windfall from startup Lordstown Motors Corp. 

Tortoi...

https://s29755.pcdn.co/news/electric-truck-story-stocks-drive-market-enthusiasm

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