Core Viewpoint - Lyft's shares have increased nearly 19% following a partnership announcement with Waymo, price target increases from analysts, and favorable legislative news in California [1]. Partnership with Waymo - Lyft announced a partnership with Waymo for the launch of autonomous vehicles in Nashville by 2026, allowing riders to hail Waymo vehicles through the Lyft app [2]. - A subsidiary of Lyft will manage Waymo's Nashville fleet, covering vehicle maintenance, infrastructure, and depot operations [2]. - This partnership indicates Lyft's potential to benefit from the autonomous vehicle market, similar to Uber's success [2]. Analyst Insights - Jefferies Financial Group analyst John Colantuoni maintained a hold rating on Lyft but raised the price target from $15 to $22 per share, highlighting the benefits of being a distributor of autonomous vehicles [3]. - Bernstein analysts noted that California's legislature may consider bills that could reduce Lyft's expenses, particularly regarding uninsured driver coverage [4]. Financial Performance - Following recent developments, Lyft's stock trades at approximately 18 times forward earnings, reflecting improved profitability this year [5]. - The autonomous vehicle market presents a promising opportunity, but further evidence of Lyft's ability to form partnerships and drive revenue growth is needed [5].