Evercore ISI lowered the firm’s price target on Etsy (ETSY) to $56 from $73 and keeps an In Line rating on the shares following a mixed Q4 print and the announced sale of Depop to eBay (EBAY) for $1.2B in cash. The Depop transaction announcement, fully unwinding the “House of Brands” strategy, was the highlight here and Evercore views as a good outcome for shareholders.
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