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Fly News Breaks for February 6, 2020
Feb 6, 2020 | 08:07 EDT
Jefferies analyst John Colantuoni initiated coverage of Etsy with a Hold rating and $46 price target. He believes consensus expectations are "overly optimistic" and his own estimates are 2% lower for revenue and 5% lower for EBITDA, noted the analyst, who sees risk into Q4 earnings when initial guidance is presented. However, he is constructive on the long-term story, "which takes precedence over our near-term negative bias and leads to a Hold," Colantuoni tells investors.