Instacart price target raised to $48 from $43 at Barclays

Barclays analyst Ross Sandler raised the firm’s price target on Instacart to $48 from $43 and keeps an Overweight rating on the shares following the Q2 report. The analyst says low penetration of e-grocery has allowed Instacart’s above-average growth to persist. At just 9-times EBITDA, the stock offers the best risk/reward in the group, the analyst tells investors in a research note.