Instacart (CART) was cut to hold from buy at Gordon Haskett on the potential downside if a DoorDash (DASH) deal fails to be completed. "We see a dynamic where incremental share price upside from an announcement is offset by downside risk of a deal falling through, which we believe will send the shares back toward (but not fully to) the $50 range (down ~$5-$8; down 8%-13%) they were trading near before last Friday (10/23) when news of a transaction was widely circulated by the media," Gordon Haskett analyst Robert Mollins wrote in a note on Tuesday. Mollins said he expects that if a deal is announced, Instacart (CART) will trade at a "healthy" discount to the acquisition price given concerns over regulatory approval. The WSJ reported on Monday that DoorDash (DASH) is in talks to acquire food-delivery rival Instacart (CART). Instacart may be valued at ~$17 billion in a deal. "Assuming a transaction is eventually announced, we think there's a higher likelihood of it being blocked than approved, but note that the outcome could be greatly influenced by how regulators define the relevant market for structural presumption screening," Mollins added. "If thresholds are measured based upon market share for grocery delivery intermediaries, we think the deal will be blocked." Shares of Instacart fell 2.2% on Wednesday. More on Maplebear (Instacart), DoorDash Register for free to keep reading. Create a free account to get unlimited breaking news and alerts when your stocks move.