Piper Sandler downgraded DoorDash (NYSE:DASH) to an Underweight rating from Neutral and upgraded Uber (UBER) to Overweight from Neutral in a notable pair trade posted by the firm on Monday. The general takeaway is that DoorDash (DASH) will face more recessionary pressure on revenue and outside-the-box revenue streams are still seen being far off in the future. Meanwhile, Lyft (LYFT) and Getaround (GETR) are seen being a notch below Uber (UBER) due to being more opex-intensive. Uber (UBER) is noted to be larger, more profitable, and expected to generate more cash in a recession. Uber (UBER) rallied 4.20%.

Source: Washington Post January 09, 2023 14:53 UTC