BofA analyst Curtis Nagle lowered the firm’s price target on Etsy (ETSY) to $50 from $55 and keeps a Neutral rating on the shares. The firm estimates that 25% of Etsy product is sourced outside the U.S. and says Etsy’s re-commerce sites, Depop and Reverb, can also help offset headwinds, but the “biggest risk” is from a pullback in overall consumer discretionary spending, the analyst tells investors.
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