Citi raised the firm’s price target on Instacart (CART) to $57 from $55 and keeps a Buy rating on the shares. The firm updated the company’s model post the Q1 report. With order growth accelerating, advertising revenue growth reaccelerating and outpacing volume growth, and margins expanding, Citi is “incrementally positive” on shares of Instacart, the analyst tells investors in a research note.
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