DoorDash (NYSE:DASH) shares rose more than 2% intra-day today following an upgrade by Mizuho Securities analysts. The analysts upgraded the stock from Neutral to Buy and raised the price target to $105 from $90.

The upgrade is based on a deep analysis of key metrics, suggesting that Gross-Order-Value (GOV) growth is likely to surpass guidance and Street expectations in the second half of 2023. The analysts cited factors such as continued market share gains in the US, rational competition in Europe, moderated food inflation, and resilient consumer spending as drivers supporting this outlook.