Instacart price target lowered to $52 from $56 at Loop Capital

Loop Capital lowered the firm’s price target on Instacart (CART) to $52 from $56 and keeps a Buy rating on the shares. The stock has been the worst performing name among gig economy companies since the beginning of earnings season, the analyst tells investors in a research note. Instacart’s EBITDA guidance implies a drop in incremental margin, raising concern that restaurant orders and lower minimum basket thresholds are driving growth with declining unit economics, the firm adds.