BMO Capital analyst Brian Pitz raised the firm’s price target on Instacart to $39 from $36 and keeps a Market Perform rating on the shares. The company reported better-than-expected Gross Transaction Value of $8.2B and EBITDA of $208M on higher basket sizes as order volume expands beyond Grocery, the analyst tells investors in a research note. Advertising also remains a bright spot, with 2025 expected growth acceleration given new and existing formats resonating well with the packaged goods vertical, BMO added.
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