eToro initiated with a Buy at Goldman Sachs
Goldman Sachs analyst James Yaro initiated coverage of eToro (ETOR) with a Buy rating and $76 price target implying 21% upside. The firm sees eToro as an attractive market share gain story in the 'fragmented' European retail brokerage market. The company has a 'differentiated' offering verses peers, in terms of geographic and product breadth, the analyst tells investors in a research note. Goldman believes CopyTrader is both a loss mitigation tool and a tool to facilitate social trading, 'which many younger investors want.'
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