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Fly News Breaks for September 14, 2018
ETSY
Sep 14, 2018 | 07:42 EDT
Wedbush analyst Ygal Arounian initiated Etsy with a Neutral rating and $50 price target, telling investors in a research note that he sees "somewhat of a dichotomy" at the moment, citing the "remarkable job" the new management team has done in the company's turnaround and the long-term demand constraint in a two-sided marketplace. "It is the cross between these two courses where we sit," the analyst says, adding that he believes at this point in the turnaround the latter needs to be a bigger driver in order for the story to continue to work from here. The analyst expects a continued gross market sales reacceleration is being priced into shares today.
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