KeyBanc last night upgraded DoorDash to Overweight from Sector Weight with a $177 price target. The firm came away more confident from its Q3 mobility and delivery survey that DoorDash is gaining ground in its core and emerging verticals, which should sustain greater than 15% gross order volume growth and drive EBITDA of $3.5B by 2026, or 6% above consensus. The latest survey showed ongoing gains in food delivery usage and grocery, the analyst tells investors in a research note. KeyBanc believes DoorDash’s strong core business and ramp in new verticals should support its revised estimates.