Etsy price target raised to $85 from $83 at Truist

Truist raised the firm’s price target on Etsy (ETSY) to $85 from $83 and keeps a Buy rating on the shares. The firm says Q1 results and Q2 outlook show that Etsy is making a speedier recovery in its march towards sustainable positive Gross Merchandise Sales growth through improvements in Search, AI-powered discovery/recommendation, marketing efficiency and greater focus on app usage.