Robinhood remains top growth pick in online brokers at Deutsche Bank

Deutsche Bank analyst Brian Bedell reiterates a Buy rating on Robinhood (HOOD) with a $121 price target after hosting an investor meeting with management. The firm sees Robinhood as aspiring to be a leader in prediction markets “from a multi-dimensional perspective.” This includes retail usage, multi-product exchange vertical, market making capabilities, and a longer-term institutional capability focused on event contracts, the analyst tells investors in a research note. Deutsche thinks the market “will evolve well beyond sports over time.” Robinhood remains the firm’s top growth pick in the online brokers.