Etsy price target lowered to $58 from $61 at BofA

BofA analyst Curtis Nagle lowered the firm’s price target on Etsy (ETSY) to $58 from $61 and keeps a Neutral rating on the shares. Ahead of Etsy reporting on October 30, the firm lowered estimates on weaker demand trends into October. The firm estimates Q3 GMS, revenue and EBITDA of $2.93B, $645M and $176M, down 1.3%, 1.2% and 0.5%, respectively.