Jefferies lowered the firm’s price target on Instacart (CART) to $43 from $55 and keeps a Hold rating on the shares as part of a Q3 preview for the analyst’s U.S. internet coverage. The firm, which expects investors to focus on 2026 growth and AI disintermediation following a series of recently announced ChatGPT integrations, recommends owning names offering a combination of insulation against AI risk and peer-leading EBITDA growth, the analyst tells investors.
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