Etsy attracts new bull as Atlantic Equities points to upside
- Atlantic Equities starts off coverage on Etsy (ETSY +0.7%) with an Overweight rating.
- Etsy is called "highly differentiated" from other digital pure-plays with its strong brand and community-building backing the bull case. "Its assortment of unique, handcrafted, personalised goods is another barrier to entry, and the community of sellers and buyers Etsy has already established would be difficult to replicate," notes the firm.
- Looking ahead, Atlantic Equities anticipates strong results over the medium and long-term for Etsy off the strong fundamentals of the company and the accelerating category trends,
- The firm's price target of $200 on Etsy reps more than 20% upside potential. The average Wall Street PT on Etsy is $226.00, which is lightly lower than where it once stood.
- Etsy is on Seeking Alpha's Catalyst Watch this week.
