JPMorgan raised the firm’s price target on Robinhood (HOOD) to $45 from $39 and keeps a Neutral rating on the shares post the Q4 report. The company is “firing on all cylinders,” the analyst tells investors in a research note. The firm says products that Robinhood has been rolling out are generating revenue with little incremental expense, evidencing the inherent operating leverage in its brokerage business. However, JPMorgan remains cautious on the shares, citing the company’s “unproven business lines and valuation.”
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Read More on HOOD:
- Robinhood (HOOD) Stock Soars as Goal to Grow Business Ten Times Larger Looks Achievable
- Robinhood price target raised to $60 from $45 at Citi
- Robinhood price target raised to $90 from $64 at Morgan Stanley
- Robinhood price target raised to $77 from $60 at JMP Securities
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