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Why Etsy Stock Struggled Thursday Morning

Why Etsy Stock Struggled Thursday Morning

Bank of America analyst Curtis Nagle initiated coverage of Etsy stock with a neutral (hold) rating, while issuing a price target of $120. The analyst thinks Etsy will return to high-single-digit revenue growth late in 2023, but cited the difficult macroeconomic situation and tough comps as headwinds in the near term. As such, he remains cautious about the prospect that Etsy will be able to reaccelerate its growth anytime soon.