Etsy price target lowered, removed from ‘Tactical Underperform’ list at Evercore

Evercore ISI lowered the firm’s price target on Etsy (ETSY) to $54 from $60 and keeps an Outperform rating on the shares following what the firm calls “a modest Beat & Lower Q1.” Etsy should be largely resilient to direct tariff impacts and should see benefit from de minimis exemption reform and a related shake-out, but the firm also believes Etsy’s “highly-discretionary” category positioning is likely to “hold sway over fundamentals” and the narrative in the near-term, the analyst tells investors. The analyst is removing Etsy from the firm’s “Tactical Underperform” list.