Wells Fargo analyst Ken Gawrelski raised the firm’s price target on Ibotta (IBTA) to $95 from $85 and keeps an Overweight rating on the shares. The firm maintains its Q3 estimates and slight tweaks down its Q4 estimates. Key factor on EPS call is visibility into Instacart (CART) partnership, going live in Q4, Wells says. The firm layers the Instacart partnership into forecasts, accelerating EBITDA growth and margins by 2026.
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