Stock Track | Robinhood (HOOD) Soars 5.03% in Pre-Market as Goldman Sachs Reiterates "Buy" Rating on Predictive Market Upgrades

Stock Track12-18 21:42

Robinhood (HOOD) shares surged 5.03% in pre-market trading on Thursday, driven by Goldman Sachs' bullish outlook on the company's predictive market and AI advisor upgrades. The bank reiterated its "Buy" rating and set a 12-month price target of $167, citing improved competitiveness and trading efficiency.

Goldman Sachs highlighted Robinhood's recent product launches, including pre-set and customizable combo contracts for sports betting, as well as upgrades to its AI advisor, Robinhood Cortex. These enhancements are expected to narrow the gap with traditional online sports betting platforms and improve user experience.

The bank also noted the potential for multi-market combo contracts and the integration of real-time financial data into Cortex, which could further boost Robinhood's appeal to traders.

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