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Fly News Breaks for December 13, 2019
Dec 13, 2019 | 07:17 EDT
SunTrust analyst Naved Khan initiated coverage of Etsy with a Buy rating and $55 price target. The analyst believes that the company is 2 years into a 5-year period of about 20% revenue growth and 500bps in margin expansion thanks to its "multiple" drivers around its market place and the monetization opportunity of Reverb. Khan also believes that Etsy's entry into "upper-funel" marketing appears "promising", forecasting increased sells participation in its ads over time that should unlock higher brand spending and margin accretion.
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