KBW increases Robinhood stock price target to $21.50

Brokerage KBW raised its price target on Robinhood shares to $21.50 from $20 while maintaining its market performance rating. Rival broker JMP raised its price target to $30 from $28 and reiterated its "outperform" rating. Robinhood shares closed yesterday at $17.85, up more than 4 per cent in early trading on Thursday. The stock has risen more than 40 per cent this year.