Instacart price target raised to $51 from $50 at BofA

BofA analyst Justin Post raised the firm’s price target on Instacart (CART) to $51 from $50 and keeps a Neutral rating on the shares. For 4Q, the firm “slightly” lowers its GTV and revenue estimates, while for 2025, its valuation basis, the firm “slightly” raised GTV while lowering its revenue and EBITDA estimates, the analyst tells investors following the company’s Q3 report.