Instacart upgraded to Buy from Neutral at BTIG

BTIG analyst Jake Fuller upgraded Instacart (CART) to Buy from Neutral with a $58 price target The immediate catalyst for the upgrade is a step-up in estimates with BTIG’s tracking pointing to strong order growth, putting it above consensus for Q4 and 2025, the analyst tells investors in a research note. The firm says Instacart is a leader in a secular growth category, unburdened by the risk “bedeviling rideshare.” The stock’s valuation is “not particularly challenging,” adds BTIG.