eToro initiated with a Neutral at Susquehanna

Susquehanna initiated coverage of eToro (ETOR) with a Neutral rating and $70 price target The company’s bull cases include the robust engagement of its “Social Trading” platform, the secular and structural growth of retail investing in its native markets, and the “exceptional marketing” return on investment driven by eToro’s “viral flywheel,” the analyst tells investors in a research note. The firm says areas of concern include intense competition and acute regulation. Susquehanna is constructive on eToro but starts with a Neutral rating on valuation.