Why This Instacart Analyst Remains Bullish Even As Amazon, Uber, DoorDash Intensify Competition
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Goldman Sachs analyst Eric Sheridan maintains a bullish outlook on Instacart (NASDAQ:CART), reiterating a Buy rating with a price target of $67 despite increased competition from Amazon, Uber, and DoorDash. Although CART stock has dropped 12% since September, Sheridan believes that partnerships with third-party marketplaces could drive incremental demand rather than cannibalizing Instacart's gross transaction value. At the time of publication, Instacart shares rose 1.31% to $38.81.
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