Zephirin Group downgrades Lyft to 'hold' rating

Zephirin Group downgrades ride-hailing firm Lyft LYFT.O to "hold" from "buy", saying acquisition of FreeNow raises concerns over accretiveness and integration risk

Brokerage lowered Lyft Q3 EPS forecast, now expecting 6 cents, down from 9 cents, citing anticipated acquisition-related closing charges, higher marketing expenses and limited accretiveness

Zephirin Group cuts PT to $15, which still represents an 11.9% upside to stock's last close

15 of 48 brokerages rate the stock "buy" or higher, 32 "hold" and one "sell"; their median PT is $16 — LSEG data

Including session's moves, stock up ~5% YTD