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.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
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