Wedbush analyst Scott Devitt lowered the firm’s price target on Instacart (CART) to $26 from $30 to reflect the latest views heading into 2024, while keeping a Neutral rating on the shares. Over time, the firm thinks Instacart’s share will erode to partners, new entrants, and sophisticated players like Uber (UBER)/DoorDash (DASH) who can bundle grocery delivery with adjacent categories.
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