Stifel lowered the firm’s price target on Instacart (CART) to $49 from $56 and keeps a Buy rating on the shares as part of a broader research note previewing Q3 results in e-commerce. There is somewhat of an increased focus on when consumer spending begins to wane due to inflation, but the firm believes the consumer has remained resilient, which likely equates to healthy Q3 numbers, the analyst tells investors in a research note. Stifel adds that it expects the company’s supply to become more competitive over time as additional retailers adopt price-parity for online and in-store shoppers.
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