This popular food delivery stock could see nearly 30% upside, Mizuho says

This food delivery stock could delivery as much as 30% upside from abating food inflation and a stronger market share, according to Mizuho.

DoorDash stock could surge thanks to moderating food inflation and market share gains, according to Mizuho Securities. The firm upgraded the food delivery stock to buy from neutral in a Sunday note, with a new $105 per share price target up from $90 per share. Mizuho's forecast implies about 30% upside from Friday's $80.83 close. DoorDash stock has surged nearly 66% from the start of the year.

mountain DoorDash stock has added more than 65% from the start of the year. Analyst James Lee says DoorDash should surpass Wall Street forecasts in the second half of 2023, driven by a solid market share amongst peers and stronger consumer food spending. "We believe key drivers include continued market share gains from its category-leading position in the US, and rational competition in Europe," Lee said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CNBC /  🏆 12. in US

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

All 30 Versions of Batman, Ranked From Weakest To Most PowerfulHow Batman’s variants compare to one another.
Read more »

CBS Mornings Deals: These wrinkle smoothing kits are on sale for 30% offShop more deals.
Read more »

Frasier Reboot Debunks A 30-Year-Old Theory About The Crane Brothers' OriginFrasier and Niles were always very different from their father, but the original show's explanation of why makes less sense with the reboot.
Read more »

The 30 Best Sitcoms of All Time, RankedFrom I Love Lucy to Seinfeld to South Park, this is Collider's ranking of the greatest sitcoms in TV history.
Read more »

Penn State rapid reaction: No. 7 Nittany Lions 30, Illinois 13 (Memorial Stadium)The Lions improved to 3-0 behind an outstanding effort from their defense.
Read more »

Defense delivers as Penn State defeats Illinois, 30-13 in its Big Ten openerThe No. 7 Nittany Lions remain unbeaten at 3-0 behind a defensive effort that forced five turnovers
Read more »