Instacart prepares to raise its IPO price target, WSJ reports

Instacart (CART) is preparing to raise the target price for its initial public offering after the success of Arm‘s (ARM) debut, Jaewon Kong and Corrie Driebusch of The Wall Street Journal report. The company is now expected to sell shares for $28 to $30 and will disclose this in an amended filing with the Securities and Exchange Commission as early as Friday, people familiar with the matter told the Journal. Instacart would be valued at nearly $10B at the high end of this new range.