Morgan Stanley upgraded Etsy (ETSY) to Equal Weight from Underweight with a price target of $50, up from $38. The firm sees a more balanced catalyst path for the shares after they underperformed the S&P 500 Index by 20% over the past year. Etsy’s valuation has compressed on slower merchandise sales growth but sales can accelerate on easy compares going forward, the analyst tells investors in a research note.
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