Scotiabank has initiated coverage of Robinhood Markets with a Sector Outperform rating and a $136 price target. The bank views Robinhood as evolving from a traditional retail brokerage reliant on stocks, options and cryptocurrency trading into a business with multiple revenue sources, including trading revenue, interest income, subscriptions, clearing and international cryptocurrency infrastructure. Robinhood’s second-quarter revenue increased 32% from a year earlier to $1.31 billion, Investing.com reported.