UPDATE: Etsy (ETSY) PT Raised to $245 at Jefferies as the EBAY Discount Narrows

Jefferies analyst John Colantuoni raised the price target on Etsy (NASDAQ: ETSY) to $245.00 (from $205.00) noting a deep dive into ETSY's GMS drivers confirms growth that continues to outpace broader e-commerce.

The analyst reiterated a Buy rating, stating "We see GMS per buyer becoming an increasingly important contributor, as a current 75% discount to eBay (NASDAQ: EBAY) gradually narrows. We also believe just 8% household penetration across ETSY's international geographies indicates there is a long runway to add buyers."

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