Wedbush analyst Scott Devitt raised the firm’s price target on Instacart to $38 from $35 and keeps a Neutral rating on the shares. The firm notes Instacart delivered healthy Q2 results with total GTV growth of +9.7% year-over-year exceeding the Street’s +8.7% estimate, while adjusted EBITDA of $208M was ahead of consensus by about $21M.
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