Etsy price target lowered to $87 from $90 at BTIG

BTIG lowered the firm’s price target on Etsy to $87 from $90 and keeps a Buy rating on the shares. The company’s Q4 topped expectations but there wasn’t much in guidance to excite the bulls, the analyst tells investors in a research note. While the firm remains positive on the strength of Etsy management and the quality of the franchise, it’s difficult to articulate the one or two near-term catalysts that could reignite growth, BTIG added.