Lyft Gets Its First Buy Rating Ahead of IPO with Price Target of $75

This makes no sense.

How do you give a rating on a stock that isn't even trading, with a Price target on an IPO that is yet to be priced?

IPO hype / marketing gimmick, or is Wall Street going giddy over this IPO ?

EDIT: Here's the video of the Analyst justifying his "rating": https://www.cnbc.com/video/2019/03/20/lyft-will-be-profitabl...