Morgan Stanley analyst Brian Nowak raised the firm’s price target on Instacart (CART) to $48 from $45 and keeps an Equal Weight rating on the shares. Q2 results and Q3 guidance were better than the firm’s estimates, but Morgan Stanley remains on the sidelines as it notes Instacart will be lapping the Uber Eats (UBER) partnership and faces intensifying competition in online grocery from more scaled and diversified peers. The firm raised its FY26 GTV and adjusted EBITDA estimates by 3% and 5%, respectively.
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