Robinhood initiated with a Buy at Jefferies

Jefferies analyst Ritwik Roy initiated coverage of Robinhood (HOOD) with a Buy rating and $88 price target The company is exposed to “rising global retail participation and its rapidly evolving product set is driving increased revenue diversity and client retention,” the analyst tells investors in a research note. Jefferies likes Robinhood’s “unique ability” to attract the next-generation investors. This positions the company as one of the primary beneficiaries of the ongoing $100 trillion generational wealth transfer, contends the firm.