tiprankstipranks
The Fly

Instacart initiated with a Buy at Seaport Research

Instacart initiated with a Buy at Seaport Research

Seaport Research analyst Aaron Kessler initiated coverage of Instacart (CART) with a Buy rating and $62 price target The firm’s positive view is based on a “massive” grocery total addressable market increasingly shifting online and its belief thatInstacart is the “clear” third-party leader in online groceries in the U.S., the analyst tells investors. The firm believes Instacart offers “a strong value proposition for consumers, retailers, brands, and shoppers” and it expects high-single digit long-term revenue growth with 35%-plus EBITDA margins.

Discover the Best Stocks and Maximize Your Portfolio:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1