- KeyBanc analyst Edward Yruma upgraded Etsy Inc ETSY to Overweight from Sector Weight with a $200 price target, suggesting an upside of 22.6%.
- The analyst believes Etsy has some of the most compelling long-term secular growth opportunities in his coverage and that management set guidance reasonably for Q4.
- His firm's Key First Look Data has pointed to stable to improving quarter-over-quarter trends.
- Longer-term, Yruma is "increasingly constructive" on continued increases in habitual buyers and potential TAM expansion via Depop.
- Etsy operates two-sided online marketplaces that connect millions of buyers and sellers worldwide.
- Price Action: ETSY shares traded higher by 2.73% at $167.60 in the premarket session on the last check Thursday.
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