Deutsche Bank raised its Robinhood price target to $136 from $115 and maintained a buy rating, citing an acceleration in fee revenue from Robinhood Chain, the company’s Ethereum Layer-2 network launched on July 1 using Arbitrum technology. Chain revenue rose from below roughly $200,000 daily through mid-August to nearly $4.01 million on September 2, generating $10.8 million over five days and about $5.4 million in fee revenue for Robinhood, above the bank’s prior $4.6 million third-quarter estimate. Deutsche Bank raised its earnings-per-share estimates but said visibility into the durability of the momentum remains limited. The chain has processed more than $12 billion in cumulative decentralized-exchange volume and over 150 million transactions, while supporting tokenized stocks and ETFs, decentralized-finance services and liquidity from Uniswap and Pleiades. Robinhood Chain complements newer businesses such as event contracts, which generated $156 million in the second quarter of 2026. Twenty-four of 29 analysts covering Robinhood rate the stock buy or strong buy, while shares have risen 41% over three months and 20% this week amid optimism about the company’s prediction-markets efforts.