Lyft Rises After Upgrade on ‘Meaningful Opportunity’ for Better Earnings

Analysts at KeyBanc raised their rating for ride-sharing app Lyft LYFT +2.08% to Overweight from Sector Weight. The shares rose. Lyft (ticker: LYFT) data improved over December, KeyBanc’s Justin Patterson wrote in a note on Tuesday. Combined with recent cost cutting , he sees a “meaningful opportunity” for the company to improve its earnings over the course of this year. Walmart WMT –0.08% is raising its hourly wages across its U.S. stores in a bid to sweeten the deal for front-line workers amid a nationwide labor shortage. Starting pay for Walmart (ticker: WMT) U.S. associates now ranges from $14 to $19 an hour, depending on location, a company spokesperson confirmed over email. Previously, the company’s starting wage was $12. That brings Walmart’s average hourly wages in the U.S. to more than $17.50 an hour.

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