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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ETSY:
- Etsy price target raised to $50 from $45 at Bernstein
- Etsy call volume above normal and directionally bullish
- ETSY Stock Volatility Sets the Stage for ‘Blackjack-Style’ Options Trade
- Etsy price target raised to $41 from $40 at Wells Fargo
- Etsy Faces Growth Challenges Amid Competitive Pressures and Limited Upside Potential