02:05 PM EDT, 05/02/2025 (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 lift our 12-month target by $6 to $54, based on an 12x 2025 EV/EBITDA multiple applied to our 2025 adj-EBITDA estimate of $1,074M (+21% Y/Y; was $1,086M). This multiple is below gig economy peers (>20x), reflecting CART's slower gross transaction value (GTV) growth. We lift our 2025 EPS to $3.27 from $3.26 and 2026 to $3.94 from $3.78. CART is not showing signs of a broader slowdown - large basket orders remain strong, and Q1 advertising revenue growth of 14% was the highest since Q3 2023. Growth in restaurant orders (aided by the Uber partnership) and the recent reduction in the minimum basket size for Instacart+ members (from $35 to $10) are driving increased order frequency and users, while also boosting order batch rates - a positive for shopper efficiency. Affordability initiatives (e.g., use of SNAP, lower delivery fees) are helping shift grocery delivery from a luxury service to a more accessible offering, expanding usage across income levels. CART has no long-term debt and $128M of buyback capacity.