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Fly News Breaks for September 14, 2018
ETSY
Sep 14, 2018 | 08:13 EDT
DA Davidson analyst Tom Forte raised his price target on Etsy to $59 and kept his Buy rating, saying the company's decision not to replace its departing COO Linda Kozlowski is an indication of the new management's ability to "do more with less". The analyst notes that his price target change assumes a higher than previously expected long-term growth rate with a maintained EBITDA margin outlook of 33% vs. 21.7% in FY17. Forte also cites Etsy's potential to improve mobile conversion and the latest pricing power evidence from a sales charge increase to 5% as some of the company's catalysts.
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