Etsy price target raised to $145 from $110 at BofA

BofA analyst Curtis Nagle raised the firm’s price target on Etsy to $145 from $110 and keeps a Neutral rating on the shares after raising estimates to reflect strong Q4 data points and a belief that Etsy could be seeing an earlier than expected stabilization in active customer and GMS trends despite a tough consumer backdrop. Nagle believes that Etsy could be setup for another quarter of better than expected revenue and earnings in Q4, but sees the opportunity for further multiple expansion as "likely limited" with shares having rallied 48% since November 1.