JPMorgan lowered the firm’s price target on Instacart (CART) to $55 from $65 and keeps an Overweight rating on the shares. The firm left the company’s Q3 report more confident in its positioning in the “secular-growth” online grocery space. Management addressed a number of key issues on the minds of investors, including competition from Amazon.com (AMZN), the analyst tells investors in a research note. JPMorgan believes Instacart’s core marketplace remains “healthy.”
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Read More on CART:
- Instacart price target lowered to $40 from $56 at Deutsche Bank
- Instacart price target raised to $48 from $45 at Bernstein
- Instacart price target lowered to $50 from $65 at Citi
- BMO upgrades Instacart to Outperform citing attractive valuation
- Instacart upgraded to Outperform from Market Perform at BMO Capital