Robinhood price target raised to $60 from $53 at JMP Securities

JMP Securities raised the firm’s price target on Robinhood (HOOD) to $60 from $53 and keeps an Outperform rating on the shares amid a broader research note on Financial Services companies. The firm is currently optimistic around the potential for a building recovery in the Capital Markets and generally anticipate a more favorable operating environment for Financial Services and FinTech companies with additional momentum as policy and regulatory details take shape from the incoming administration, the analyst tells investors in a research note. Robinhood is one of the firm’s top four stock ideas where the risk/reward is viewed as most compelling.