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Etsy price target lowered to $45 from $50 at Bernstein

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Bernstein lowered the firm’s price target on Etsy (ETSY) to $ 45 from $ 50 .

The firm notes Etsy has far less direct exposure to China tariffs than most.

Bernstein likes the broader message on data-driven enhancements to search and the recommendation engine, which it thinks are in need of upgrades.