Etsy price target raised to $75 from $70 at Truist

Truist raised the firm’s price target on Etsy (ETSY) to $75 from $70 and keeps a Buy rating on the shares. The firm is citing Truist Card Data which shows that Marketplace revenue quarter-to-date is tracking ahead of consensus estimates, along with comps easing in August/September and in Q4 as well, which provides a positive set up for year-end, the analyst tells investors in a research note. This momentum for Etsy reflects sustained traction, with growth initiatives underway that include improvement in product quality, the firm added.