eToro initiated with a Neutral at Redburn Atlantic

Redburn Atlantic analyst Charles Bendit initiated coverage of eToro (ETOR) with a Neutral rating and $68 price target eToro operates a brokerage model built around social investing, and its copy trading technology is “genuinely differentiated,” the analyst tells investors in a research note. The firm says the company’s revenue remains highly pro-cyclical, especially in crypto, which remains externally driven and challenging to predict, which exposes the company’s earnings to a wide range of outcomes.