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Barclays upgrades Robinhood on ‘uniquely differentiated growth opportunity’
The Fly

Barclays upgrades Robinhood on ‘uniquely differentiated growth opportunity’

Barclays upgraded Robinhood (HOOD) to Overweight from Equal Weight with a price target of $49, up from $26. The firm sees a “uniquely differentiated growth opportunity set and an increasingly demonstrated ability to execute.” execute. Robinhood is also a direct beneficiary of the changing outlook for crypto, the analyst tells investors in a research note. Barclays is “increasingly confident” in the longer-term roadmap the company has laid out, seeing a unique opportunity set in terms of both product and geographic expansion. The conditions that have benefitted Robinhood over the course of fiscal 2024, like higher-for-longer rates and constructive equity markets, are set to continue or improve, contends Barclays.

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