Robinhood price target raised to $47 from $30 at KeyBanc

KeyBanc raised the firm’s price target on Robinhood (HOOD) to $47 from $30 and keeps an Overweight rating on the shares. The firm attended the inaugural Robinhood investor day, where management outlined the strategic direction of the platform over the next decade and expanded commentary on near-term product/geo priorities. Forward-looking financial detail was a bit light, though indicated double-digit revenue growth, expense growth below revenue growth, and double-digit EPS growth “over time,” a framework that affords a great deal of flexibility, KeyBanc adds.