1003 ET - Oppenheimer analysts are looking more favorably on Etsy as they see the ecommerce platform's product improvements working. In a recent survey of U.S. consumers, about a quarter of Etsy buyers indicated better search, product selection or item descriptions on the platform, and a majority say they go directly to the company's website or app versus Google, the analysts say. The results suggest Etsy has a strong competitive moat and is less dependent on Google search, they say. Still, while Etsy's broad product improvements are clear, reactivating and adding new buyers is still tough, they say. The analysts upgrade the stock to outperform from perform and establish a $90 price target.
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