Lyft, Inc.(NASDAQ:LYFT) shares closed more than 8% lower on Friday following RBC Capital’s downgrade.

The analysts downgraded the company to Sector Perform from Outperform and lowered their price target to $16 from $30. Among the main reason for the downgrade, the analysts mentioned concerns that competitive challenges may be more structural than originally thought.

The analysts believe UBER's structural advantages drive increased competitive intensity for LYFT where its ability to maneuver is likely limited by its long-term profit targets. Furthermore, the analysts believe margin targets may limit the company’s ability to regain share beyond geographic reversion.