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Benzinga
Benzinga
Business
Wayne Duggan

UNBELIEVABLE: Doordash analyst cuts price target following amazon grubhub deal | History Defined

DoorDash Grubhub Amazon Michael McGovern DoorDash Inc Amazon Prime DashPass

DoorDash Inc (NYSE:DASH) shares dropped 8% on Wednesday morning after Amazon.com, Inc. (NASDAQ:AMZN) announced a new partnership with DoorDash competitor Grubhub. The Amazon-Grubhub deal prompted one Wall Street analyst to cut his price target for DoorDash.

The Analyst: Bank of America analyst Michael McGovern has reiterated his Buy rating for DoorDash, but cut his price target from $90 to $85.

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