Etsy price target lowered to $75 from $85 at Truist

Truist analyst Youssef Squali lowered the firm’s price target on Etsy to $75 from $85 but keeps a Buy rating on the shares. The company’s Q1 results were in-line and its Q2 outlook was “muted” amid tough macro backdrop weighing on discretionary spending, the analyst tells investors in a research note. Truist adds however that the positive growth trends for buyers and sellers show that the underlying health of the marketplace remains robust despite cyclical headwinds affecting the industry, positioning Etsy well for when the economy normalizes.