Instacart price target raised to $50 from $45 at BofA

BofA analyst Justin Post raised the firm’s price target on Instacart (CART) to $50 from $45 and keeps a Neutral rating on the shares. E-commerce trends were mixed in the first two weeks of October, with Delivery outperforming, notes the firm. Based on BSM and SensorTower app data, BofA expects a strong Q3 for the delivery sector and raised its price targets on select gig economy stocks and eBay (EBAY), the analyst tells investors.