JPMorgan upgrades DoorDash, says shares can keep outperforming on global expansion

JPMorgan is bullish on DoorDash 's future after it completed its acquisition of Deliveroo this month. The bank upgraded shares of the food delivery company to an overweight rating, and lifted its price target to $325. Prior to a period of restriction, JPMorgan analyst Doug Anmuth had a neutral rating and $175 price target on the stock. Shares of DoorDash have surged 63% this year, but Anmuth's revised price target implies an additional 19% upside ahead for the stock. DASH YTD mountain DASH YTD chart As a catalyst, Anmuth pointed to DoorDash's recent acquisition of Deliveroo, which had operated in nine markets new to DoorDash. Following the acquisition, DoorDash now operates in 45 countries with a combined population of over a billion. It serves more than 700,000 local businesses and 50 mil