eToro initiated with a Buy at Goldman Sachs

Goldman Sachs analyst James Yaro initiated coverage of eToro (ETOR) with a Buy rating and $76 price target implying 21% upside. The firm sees eToro as an attractive market share gain story in the “fragmented” European retail brokerage market. The company has a “differentiated” offering verses peers, in terms of geographic and product breadth, the analyst tells investors in a research note. Goldman believes CopyTrader is both a loss mitigation tool and a tool to facilitate social trading, “which many younger investors want.”