Etsy price target raised to $153 from $145 at BofA

BofA raised the firm’s price target on Etsy to $153 from $145 and keeps a Neutral rating on the shares after the company reported Q4 earnings above Street expectations as revenue was boosted by sitewide improvements driving incremental GMS and a higher take rate. The firm reiterates a Neutral rating as projected growth is below historic levels, which it views as likely to limit multiple expansion, but adds that it was "encouraged" to see another quarter of sequential growth in active customers driven by new and reactivated buyers.