The firm raised its rating on Etsy to outperform from peer perform and set a $100 price target, representing more than 54% upside over the next 12 months.
ETSY 5Y mountain Etsy - 5 years Etsy shares are down 46% so far in 2023 and about 80% from their pandemic high as inflation crimped consumers' wallets and investors dumped growth stocks in the wake of higher interest rates.
Wolfe gave three reasons why the stock could rebound: a recovery in consumer spending with the improving economy, margin improvement potential and a better focus on its core franchise. "Our scenario analysis suggests that there are several paths for ETSY to reach over $850m in EBITDA in FY24," the note stated.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wolfe Research think this pharma stock can bounce back and deliver long-term earnings growthAnalyst Justin Lake upgraded the stock to outperform from 'peer perform,' noting ithas an 'attractive' risk-reward ratio.
Read more »
'Hell no,' 'Rustin' director George C. Wolfe doesn't read reviewsIn conversation at the L.A. Times Studio at the Toronto International Film Festival, Wolfe discussed his new Netflix movie, his approach to the platform's viewership metrics and more.
Read more »
Judge expunges Sask. medicine man Cecil Wolfe's 12 guilty pleas to sexual assaultCiting \u0022ineffective assistance in counsel,\u0022 Judge Sanjeev Anand said Cecil Wolfe wasn\u0027t properly informed when he entered the pleas last year.
Read more »
4 big analyst picks: CVS picks up upgrade on 'attractive risk/reward,' per Wolfe By Investing.com4 big analyst picks: CVS picks up upgrade on 'attractive risk/reward,' per Wolfe
Read more »
Small businesses open to AI and automation but worry about evolving tech, Visa research findsNew research from Visa finds that small businesses are overwhelmingly open to the use of AI tools and automation to be more competitive, but are worried about keeping up with tech.
Read more »
Upcycling canola may increase cattle health: U of S researchYoung Innovators: When packaged into a pellet form, canola seeds can be used as a fat supplement easily provided to cows in their diets.
Read more »