DoorDash stock surged on Wednesday after KeyBanc analyst Justin Patterson upgraded the stock to Overweight, citing the company’s strong market share gains, emerging revenue streams, and robust growth prospects. Patterson’s upgraded forecast is based on his recent survey data, which shows DoorDash distancing itself from competitors in food delivery and making significant inroads into the grocery market. The analyst also anticipates DoorDash’s core and emerging verticals to fuel strong GOV and EBITDA growth in the coming years.
