BMO Capital analyst Brian Pitz raised the firm’s price target on Instacart (CART) to $58 from $49 and keeps a Market Perform rating on the shares. The company’s solid growth was primarily driven by innovations on all fronts, including AI-powered boosts to internal efficiencies and user experience, increased advertiser diversification, and a continued focus on improving affordability for shoppers, the analyst tells investors in a research note.
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