11:14 AM EDT, 09/18/2025 (MT Newswires) -- Lyft's ( LYFT ) new partnership with Alphabet's (GOOG, GOOGL) Waymo adds a "high-profile" autonomous vehicle partner, but the initial impact on ride volumes may be limited given supply constraints and Waymo's continued direct offering through its own app, BofA Securities said in a note Thursday.

According to the report, the partnership is a positive step but could invite more direct competition, while posing risk to Uber Technologies ( UBER ) if it sets a new standard for autonomous vehicle tie-ups.

BofA analysts said details regarding the Lyft-Waymo partnership were limited and that it is not exclusive.

The firm maintained an underperform rating on Lyft ( LYFT ) while raising its price target to $14 from $12.

Lyft ( LYFT ) shares were down 1.3% in recent Thursday trading.

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