Morgan Stanley analyst Brian Nowak raised the firm’s price target on Instacart (CART) to $45 from $44 and keeps an Equal Weight rating on the shares. The company continues to exhibit healthy core growth and the firm sees the after-hours stock reaction reflecting a miss versus elevated expectations, the analyst tells investors. Following earnings, the firm’s FY26 EBITDA view rises 3% to $1.2B, but it continues to prefer faster growing, diversified Amazon (AMZN), DoorDash (DASH) and Uber (UBER) as online grocery plays, the analyst added.
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