Citizens JMP analyst Devin Ryan raised the firm’s price target on Robinhood (HOOD) to $170 from $130 and keeps an Outperform rating on the shares. Capital markets and FinTech stocks have surged 30%-50% or more since April as market activity rebounds, institutional trading holds firm, and asset and wealth management flows strengthen alongside higher markets, the analyst tells investors in a research note. Despite stretched valuations and multi-year highs across several subsectors, continued performance dispersion is expected, making selectivity key, though certain names still present compelling opportunities.
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