eToro initiated with a Buy at Canaccord

Canaccord analyst Joseph Vafi initiated coverage of eToro (ETOR) with a Buy rating and $78 price target The firm views eToro as a next-generation “digital disruptor,” bringing to market a value proposition that is resonating with younger and savvy traders and investors, especially with its Copy Trader and Smart Portfolios offerings. The company is doing this globally and across a broad set of asset classes, the analyst tells investors in a research note. Canaccord views eToro as a clear share gainer in retail trading and investing. It also believes the company’s short- to medium-term “is ripe with catalysts”, including a push into the U.S market, and the potential for crypto to move more towards becoming a mainstream asset class.