Instacart price target raised to $48 from $36 at Oppenheimer

Oppenheimer raised the firm’s price target on Instacart (CART) to $48 from $36 and keeps an Outperform rating on the shares. Within the Gig Economy, Instacart is the firm’s top pick. While conservative, Oppenheimer forecasts Instacart’s share will remain largely unchanged by 2026 at 21%. Nonetheless, the firm expects Amazon’s (AMZN) grocery delivery subscription will put some pressure on net adds for CART’s Instacart+, as some Prime Members will be likely to adopt Amazon’s solution before signing up for Instacart, especially given the compare monthly fee/order thresholds. This also supports the acquisition of Instacart by Uber (UBER) or DoorDash (DASH), allowing them to bundle into a single monthly subscription.