StoneX initiates Robinhood coverage with Buy rating and $170 target

  • StoneX Financial initiated Robinhood coverage with a Buy rating and a $170 target.
  • Robinhood traded at $116.17 after reaching an intraday high of $121.42.
  • Mizuho and Cantor Fitzgerald maintained Buy ratings with $140 and $150 targets.

StoneX Financial initiated coverage of Robinhood with a Buy rating and a $170 price target, representing about 45% upside from the stock's Tuesday close of $117.34. Robinhood shares traded at $116.17 after reaching an intraday high of $121.42, though the stock had gained nearly 13% over five trading sessions and about 25% over the past month. Mizuho raised its target to $140 from $130 and maintained a Buy rating, while Cantor Fitzgerald kept a Buy rating and set a $150 target. Jefferies raised its target to $140 from $127, and Goldman Sachs lifted its target to $142 from $124. StoneX identified Robinhood Chain and prediction markets as potential growth drivers, while Robinhood's partnership with Crypto.com expands its prediction-market offerings. Broader crypto-market volatility, US CPI data and the Federal Reserve's policy-rate decision remain potential factors for the shares.

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