Citi analyst Christopher Allen raised the firm’s price target on Robinhood (HOOD) to $100 from $50 and keeps a Neutral rating on the shares as part of a Q2 earnings preview for the broker group. The equity market rebound, resilience of retail activity, and an improving capital markets outlook have been tailwinds for the brokerage space, the analyst tells investors in a research note. Citi says Charles Schwab (SCHW) remains its favorite name in the sector.
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.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HOOD:
- AI Daily: Robinhood under pressure as OpenAI says tokens aren’t equity
- Odds On: S&P 500 inclusion expectations reset after surprise pick
- Morning Movers: TripAdvisor jumps after Starboard discloses stake, seeks talks
- Robinhood Stock Falls as OpenAI Clarifies ‘OpenAI Tokens Are Not OpenAI Equity’
- Datadog Rockets 11% on S&P 500 Inclusion News