StoneX initiates coverage of Robinhood with $170 price target
StoneX Financial initiated coverage on Robinhood with a Buy rating and a $170 price target, citing a new Layer 2 chain and prediction markets as key growth drivers.
StoneX Financial, the brokerage and equity research arm of StoneX Group, has given Robinhood a Buy rating and a $170 price target, citing its new Layer 2 chain and prediction markets business as key growth drivers. In a Tuesday research note initiating coverage of Robinhood, Mark Palmer, managing director and senior equity research analyst at StoneX, said the company’s product expansion could support further growth.