Etsy price target lowered to $108 from $130 at BTIG

BTIG lowered the firm’s price target on Etsy to $108 from $130 but keeps a Buy rating on the shares as part of a broader research note on the broader TMT sector. The company is among the few e-commerce names that have not undertaken workforce reductions and other cost actions in the past 12 months, the analyst tells investors in a research note. The firm notes however that while the economy is likely going to get worse before it gets better, corporate visibility has improved to the point that firms will be more aggressive with stock and debt buybacks.