Instacart price target lowered to $60 from $67 at Benchmark

Benchmark lowered the firm’s price target on Instacart (CART) to $60 from $67 and keeps a Buy rating on the shares. Management delivered “relatively stable” Q3 results and in-line Q4 revenue and adjusted EBITDA guidance at the midpoint, notes the analyst, who is taking “a conservative view” on FY26 Average Order Value and modeling it down 2% year-over-year.