02:00 PM EDT, 08/08/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month target to $61 from $54, rolling forward our unchanged 12x EV/EBITDA multiple to our 2026 adj-EBITDA estimate of $1,265M (down from $1,293M but still implying 19% Y/Y growth). The multiple remains well below gig economy peers (Uber at 20x, DoorDash at 35x), which we find reasonable given CART's slower gross transaction value (GTV) growth. However, CART is far more profitable than peers (nearly 30% adj-EBITDA margins), led by its focus on big-basket grocery orders. We believe strong Q2 results help ease investor concerns about competition and the potential impact of some retailers moving away from nonexclusive agreements. Shares may have traded higher if ad business growth had been stronger, though ads still grew a solid 12% Y/Y despite one large CPG customer pulling back due to a tough macro for CPG products. The ad take rate (ad revenue / GMV) is currently 2.8%, but we see a path to 4-5% over the next few years. We trim our 2025 EPS to $3.21 from $3.27 and 2026's to $3.83 from $3.94.