Fly News Breaks for September 13, 2019
Sep 13, 2019 | 07:14 EDT
Wedbush analyst Ygal Arounian upgraded Etsy to Outperform from Neutral and raised his price target to $66 from $64, telling investors in a research note that he now sees a critical mass of new initiatives, highlighted by Etsy Ads and free shipping, that can drive stronger GMS growth and margin expansion over time. Arounian says he "particularly likes" the timing with both Etsy Ads and free shipping launching into the holiday season and views the 25% pullback in shares since July highs as a strong buying opportunity.
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