Morgan Stanley says Etsy gains on Instant Checkout feature ‘overdone’

Morgan Stanley keeps an Equal Weight rating and $54 price target on Etsy (ETSY), saying that while the firm is “encouraged” by the company becoming one of the first partners for ChatGPT’s new Instant Checkout, the 16% move “seems overdone”. Morgan Stanley further notes that its far less clear if agentic commerce is Etsy’s friend or foe over the long-term.