Evercore ISI analyst Mark Mahaney downgraded Lyft (LYFT) to In Line from Outperform with a price target of $18, down from $41. The analyst says the “weak growth” in Lyft’s Q3 active riders is “very concerning” as is its acknowledged market share loss to Uber (UBER). In addition, Lyft’s Q4 revenue outlook “appears soft,” Mahaney tells investors in a research note. There is also the “real potential” that ongoing consumer softness, which hasn’t impacted ridesharing yet, will in 2023, says the analyst. Mahaney would “much rather own” shares of Uber, citing its “superior scale and business model.”