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The potential deal "allows GRUB shareholders to participate in what we think could be a strong ride-hail industry recovery," Barclays said.
Both companies are in negotiations and could close a deal before the end of the month, sources familiar with the matter told Bloomberg.
Lyft surges 19% after posting a narrower-than-expected quarterly loss as coronavirus hit the ride-hailing industry
"The strength and duration of these headwinds cannot presently be estimated. These are the hard truths we are facing," CEO Logan Green said.
‘Herculean-like challenges looking ahead’: Here’s what 4 analysts are saying ahead of Uber’s first-quarter earnings report
"On the other side of this dark valley, the Uber business model will likely look a lot different for the next few years," Wedbush analysts said.
"We are well positioned to weather this," Uber CEO Dara Khosrowshahi said on a Thursday call with investors.
The recent coronavirus-induced market rout represents "golden buying opportunities" for the top tech stocks, wrote Wedbush analyst Daniel Ives.
It's the second large enterprise client after IBM that's gone "all in" with the workplace chat-app in February.
‘Taking a different approach’: Lyft reports quarterly earnings Tuesday after market close. Here’s what 5 analysts are saying.
Lyft reports its quarterly earnings results a few days after rival Uber beat expectations and updated its timeline to profitability.
Uber’s accelerated race to profitability has one Wall Street analyst doubling down on it as the best stock pick of 2020
"We still see material upside potential from current levels," Mark Mahaney of RBC Capital Markets said in a Friday note.
The results were "a huge step forward" for Uber and it "shows the business model is starting to hit another gear," wrote Daniel Ives of Wedbush.