RBC upgrades Etsy to Outperform with $68 target amid free shipping push

RBC Capital analyst Shweta Khajuria upgraded Etsy to Outperform from Sector Perform with a price target of $68, up from $63. The stock closed Thursday down 38c to $59.07. The analyst, who admits there's some risk to estimates in the second half of 2019, views the stock's risk/reward as attractive. Etsy's push to encourage more sellers to offer free shipping, its advertising, and recent acquisition of Reverb can boost both revenue and gross merchandise sales above consensus estimates in fiscal 2020 and 2021, Khajuria tells investors in a research note. She sees these efforts having a "mid-to-long-term positive impact" on Etsy's business.