Blue Apron price target raised to $13 from $5 at Lake Street

Lake Street raised the firm’s price target on Blue Apron to $13 from $5 and keeps a Hold rating on the shares after the company announced that it has entered into a definitive merger agreement to be acquired by Wonder Group for $13 in cash per share. Wonder has fully committed financing, so the firm sees little risk of the deal falling through or a competing bid coming in, the analyst tells investors.