Macquarie Maintains Instacart(Maplebear)(CART.US) With Buy Rating
JMP Securities Maintains Instacart(Maplebear)(CART.US) With Buy Rating, Maintains Target Price $42
Uber Technologies, Lyft, and Doordash win in California gig worker ruling.
Uber Technologies and Lyft can continue to classify drivers in California as independent contractors. Previously, the state's highest court said that a law supported by the companies and passed by voters did not improperly limit the legislature's power over worker protections. The unanimous ruling, announced on Thursday, supports Proposition 22 in California, which was backed by a majority of voters in 2020. The ruling is bullish for the gig economy companies, eliminate a major regulatory uncertainty for investors. If the judges had ruled Proposition 22 invalid and drivers were reclassified as employees, these companies could potentially face millions of dollars in additional costs.
California Supreme Court Upholds Ballot Measure Classifying App-Based Workers as Independent Contractors
Maplebear Is Maintained at Equal-Weight by Morgan Stanley
Maplebear Price Target Raised to $45.00/Share From $43.00 by Morgan Stanley
Expand
