KeyBanc has revised its price target for Robinhood (HOOD, Financial) shares, lowering it to $55 from a previous target of $75. Despite this adjustment, the investment firm continues to maintain an Overweight rating on the stock. The change comes as KeyBanc reassesses its expectations ahead of the company's upcoming first-quarter earnings report.
The firm has emphasized the need for caution due to the uncertain economic landscape for the remainder of the year. This sentiment has influenced how KeyBanc is setting its price targets and forecasts across its coverage spectrum. According to KeyBanc, adopting a cautious approach is deemed prudent given the unpredictable factors affecting market conditions.
