Morgan Stanley raised the firm’s price target on Instacart to $43 from $40 and keeps an Equal Weight rating on the shares. Q1 GTV and EBITDA came in 1% and 10% above the firm’s forecasts, respectively. Following the report, the firm raised its FY24 and FY25 GTV views by 1% apiece and EBITDA forecasts by 9% and 7%, respectively.
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