Robinhood Soars on Double Upgrade From Long-Time Bearish Analyst
- BofA raised stock to buy from underperform, also hiked PT
- Shares are on course for best week in 2024 as it rallies 23%
Photographer: Gabby Jones/Bloomberg
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Robinhood Markets Inc. shares are on track for their best week of the year as meme stock mania grips the markets. The jump has even long-time bears at Bank of America Corp. taking notice.
Analysts led by Craig Siegenthaler raised their recommendation on the online brokerage to buy from underperform, saying rising retail engagement and accelerating organic growth will drive 2025-26 earnings up.