eToro initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage of eToro (ETOR) with an Overweight rating and $84 price target eToro is a global investment platform with more than 3.5M funded accounts and most of its business comes from outside the U.S., the analyst tells investors in a research note. The firm sees current share levels as a reasonable entry point for a business that can compound earnings at a 15% annually over the next two years, with the potential for upside coming from “relatively conservative” revenue growth expectations. When combining eToro’s valuation and “numerous growth vectors,” shares offer a favorable risk/reward at current levels, contends Cantor.