Jefferies initiated coverage on Instacart — which operates as Maplebear, Inc. (CART) — with a Hold rating and $45 per share price target. The analyst behind the call cited risks in Instacart's reliance on digital advertising to penetrate further into the US grocery market, which is still in the middle of a digital transition.

L'Oréal (OR.PA) was downgraded from Underweight to Neutral by JPMorgan's analyst team.

Lastly, Citi raised its rating on Cisco Systems stock (CSCO) to Buy over the company's future AI contributions.

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This post was written by Luke Carberry Mogan.